1 Day
Source:
المصري اليوم
Tesla's earnings drop amid higher R&D costs
Tesla experienced a decline in its profits during the second quarter of 2026, primarily due to increased spending on research and development areas that represent the company's future, such as autonomous vehicles and robotics. The company recorded a net income of $1.11 billion, which was below Wall Street expectations of $0.53 per share. Meanwhile, revenues increased by 26% to $28.24 billion, surpassing analysts' forecasts. Spending on research and development jumped by 49%, reaching $2.37 billion, with expectations of higher capital expenditures in the second half of the year, which will push annual spending to more than $25 billion. Despite this, Tesla was able to deliver over 480,000 cars during the quarter, a 25% increase compared to the previous year, with continued growth in sales.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)