Tesla’s second quarter profits fell 45% to $1.478 billion

Jul 23. () –

American electric carmaker Tesla posted net attributable profit of $1.478 billion in the second quarter of the year, down 45% from $2.703 billion in the same period in 2023, according to the company’s accounts.

In this sense, the company’s operating margin closed the first quarter of the year at 6.3%, which is 3.3 percentage points less than in the same period of the previous year, when it stood at 9.6%.

However, the company led by Elon Musk has increased its revenue to $25.5 billion, which represents a 2% increase compared to what it earned in the same period in 2023.

The automotive business, on the other hand, generated revenue of 19,878 million, 7% less than in the second quarter of 2023.

Adjusted gross operating profit (EBITDA) up to July was $3.674 billion, 21 percent less than the $4.653 billion in the second quarter of last year.

Looking to the future, the company says it is “continuing to make progress” in developing software and hardware for its autonomous driving service and also for the robotaxi.