Why Tesla Stock Crashed Today
Yahoo Finance ·
Shares of Tesla ( TSLA -14.38% ) plunged on Thursday after the Elon Musk-led tech titan reported earnings that fell short of investors' expectations. Tesla's revenue rose 26% year over year to $28.2 billion in the second quarter. The gains were fueled by a 23% jump in automotive sales to $20.5 billion, a 13% rise in energy generation and storage revenue to $3.1 billion, and a 50% surge in services and other revenue to $4.6 billion. But sales weren't the issue. Soaring costs and declining margins were. The electric vehicle ( EV ) maker's operating margin fell to 1.4% from 4.1% in the prior-year quarter, driven by a 47% surge in operating expenses.
DYAX Investor Sentiment
Bullish (Long) 53% · Bearish (Short) 47%
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