Revenue increased by 2% but operating income dropped sharply
Stock price fell by over 7% in after-hours trading,
Elon Musk, CEO of Tesla. Reuters/Yonhap News,
,
, ‘On the 23rd local time, Tesla announced a significant decrease in operating profit for the second quarter compared to the previous year. In addition to poor performance, CEO Elon Musk revealed that the unveiling of fully autonomous taxis and robotaxis would be postponed by about two months, leading to a sharp decline in Tesla’s stock price.’,
,
, ‘According to the performance report released on the same day, Tesla recorded revenue of $25.5 billion (approximately 35.3 trillion Korean won) and an operating profit of $1.65 billion (approximately 2.2 trillion Korean won) in the second quarter (April to June). ‘, While revenue increased by 2% compared to the same quarter last year, operating income plummeted by approximately 33%, ‘. This marks the fourth consecutive quarter of declining operating income. The operating profit margin also decreased to 6.3%, down 3.3 percentage points from the same period last year (9.6%).’,
,
, ‘US economic media CNBC analyzed Tesla’s poor performance in the second quarter as “experiencing a double whammy.”‘, Electric vehicle sales are decreasing, while investment in artificial intelligence (AI) infrastructure is increasing significantly, ‘. In response to the weakening demand in the electric vehicle market and intensifying competition, Tesla lowered vehicle prices, offered low-interest loans to buyers, and implemented policies, leading to a significant drop in per-vehicle profit.’,
,
, ‘Following the performance announcement, Musk stated that ‘, the timing for the unveiling of robotaxis will be changed to October 10th, ‘ after originally planning to unveil them in early August, delaying it by about two months. He mentioned that he had made some important changes to improve the robotaxis but did not specify the reasons for the postponement.’,
,
, ‘This announcement disappointed investors, causing Tesla’s stock price to drop by 2.04% in regular trading and further plummet by over 7% in after-hours trading.’,
,
,