It’s been a rocky year for Tesla’s financial outlook. The electric vehicle maker once led the market for gas-free cars, but recently has faced falling stock, steep competition and a CEO who has been described as erratic and a chaos maker. Now, for its second-quarter earnings, Tesla is reporting a decline in both revenue and profit.
The electric vehicle maker said it saw a 12% drop in revenue from the same time last year, coming in at $22.5bn, which was below Wall Street’s expectations of $22.7bn. Tesla noted its operating income also decreased to $0.9bn, a 42% decrease since last year. This marks a second straight quarterly decline for the company.
