特斯拉股价暴跌逾12%，Q2净利不及预期且毛利率进一步下滑

According to MSX.COM data, Tesla's stock price fell by over 12% to $329.015 per share, with a total market capitalization of $1.24 trillion.

Earnings reports show that Tesla achieved second-quarter revenue of $28.24 billion, exceeding market expectations and representing a 26% year-over-year increase — the first time in three years that revenue growth has exceeded 20%. However, operating profit for the second quarter was only $398 million, far below the market expectation of $1.39 billion; adjusted earnings per share were $0.33, down 18% year-over-year, also significantly missing expectations. The gross margin stood at 16.8%, lower than analysts' forecast of 19.4%, compared to an overall gross margin of 21.1% in the first quarter.

Notably, Tesla's free cash flow in the second quarter was -$1.09 billion, marking the first negative quarterly figure since the first quarter of 2024. Tesla executives stated that the negative free cash flow was due to capital expenditures more than doubling quarter-over-quarter in the second quarter. They expect capital expenditures to continue growing over the next two to three years and reiterated that capital expenditures this year will exceed $25 billion.