**Tesla Reports Disappointing Earnings, CEO Loses $130 Billion**
On July 22, Tesla Inc. (NASDAQ: TSLA) released its second-quarter earnings, leading to an 18% drop in stock value, marking a 52-week low. Despite revenue increasing by 26% year-over-year to $28.23 billion, the company’s rising expenses—up 47% to $4.35 billion—resulted in diminished operating margins and earnings per share of $0.33, which fell short of analysts’ expectations of $0.54. Consequently, CEO Elon Musk’s net worth declined by $130 billion.
Tesla reported vehicle deliveries of 480,126, up 25% from the previous year. However, it also noted a $1.2 billion reduction in cash and investments, along with negative free cash flow of $1.1 billion. Capital expenditures are projected to exceed $25 billion in the latter half of the year, with plans to borrow up to $30 billion to support this increase.
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