Tesla shares fall 10 percent at open
Tesla's stock declined by approximately 10% at the start of today's U.S. trading session following quarterly results that fell short of expectations. Despite a 26% increase in revenue to $28.2 billion, net profit dropped by 5% to $1.11 billion. Free cash flow turned negative, showing a deficit of $1.1 billion, due to higher investments and capital expenditures totaling $5.79 billion. Tesla continues to expand its production, especially at its German factory, to contend with increasing competition in the global market.
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