Tesla stock declines due to quarterly results

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The stock price of the EV maker started the day's trading with a $21.32 or 8.65% drop, which is caused by the firm's quarterly financial results.

Tesla has missed market analyst estimates for profit margins, as gross margin is at 14.6% instead of the expected 16.3%. In general, the firm cut its prices in order to boost demand. The price reductions where previously announced, but the impact was assumed to be less than actually revealed.

Earnings are 15.29% below expectations. Earnings-per-share are at $0.52 instead of the forecast $0.614. However, the firm's total revenues are above market expectations. Tesla has earned $25.5 billion instead of $24.54 billion.

In regards to the future, Chief Executive Officer Elon Musk has revealed that he expects Tesla vehicles to drive without human supervision in the United States already in 2025. In addition, the EV maker expects to receive the approval for supervised Full Self-Driving in China and Europe by the end of this year. Although, the reveal of the Robotaxis has been delayed to October 10 due to ongoing improvements.
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