Elon Musk Tesla shares fell 3% in after-hours trading, and some effects on Tesla’s business were revealed,
Revenue from April to June was $25.5 billion, which fell to $22.5 billion today, the electric vehicle, battery and robotics company’s quarterly profit was $1.4 billion, or 40 cents per share, down to $1.17 billion, or 33 cents per share, and earnings were 40 cents per share. The profit for the last three months has also been seen to have decreased, with profit down 16% and revenue down 12%.
Elon Musk’s quote about goals and challenges
Musk has stated that the company’s earnings are not yet ahead and that the three-month profit gap has become clear to us, which means that robotaxis, automated driving software and robotics, and car sales are down, the news came out of his conference call.
According to Musk, Tesla has decided to launch a cheaper model in the future to increase sales, which the company has previously clarified.
And its self-driving software remains hotly debated, pending approval, and will be used in European regions.
Musk made a statement about the robot business that Tesla will focus on significantly increasing the production of its humanoid Optimus helpers in the next five years, and will increase it to 100,000 per month, and will take them to places where robots are scarce. He also said that his control and grip on Tesla will be in the right direction and strange.
The budget also eliminated the $7,500 electric car purchase credit and fines for automakers that overindulge, threatening Tesla’s business of selling “carbon credits” that don’t meet emissions standards.
The fall in revenue, profit and Tesla shares over the past three months, which Elon Musk entered politics last year, is reflected in the company’s decline. Profits fell 17.2% in the past three months. The company’s profit is likely to rise next month.