Tesla: EPS plunges 43% in Q2

(CercleFinance.com) - On Tuesday evening, Tesla reported adjusted net income that is down 42% for Q2 2024, reaching $1.
81bn, or $0.52 per share (-43%), with an adjusted EBITDA margin down 4.3 points to 14.4%. NB: pmt -8.5%.

Revenues rose by 2% to $25.5bn; a 7% decline in automotive activities was offset by a doubling in energy storage and generation, and a 21% rise in services and other.

We have seen a sequential rebound in vehicle deliveries as consumer sentiment improves and attractive financing options are introduced to offset the impact of high interest rates, Elon Musk's group says.

Overall, we remain focused on reducing costs within the company, developing our traditional hardware activities and accelerating the development of our AI-enabled products and services, it adds.


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