Tesla’s profits sank sharply in the second quarter of 2024

Photo by Osmancan Gurdogan/Anadolu via Getty Images Tesla published its second quarter earnings report in which the company said it earned $1.48 billion in net income on $25.5 billion in revenue. That represents a 2 percent increase year over year compared to $24.9 billion in revenue in Q2 2023, but a 45 percent drop in net income.
Tesla’s gross margins were in the spotlight again, as bullish investors hoped to see improvements after years of steady decline. Rampant price cutting and cooli