Tesla shares fell 6.1% during after-hours trading on Wednesday after the EV maker's earnings per share in Q2 dropped to $0.33 from $0.51 a year earlier. As a result, Tesla chief Elon Musk's net worth fell $44.3 billion overnight to $750.2 billion, according to Forbes, attributable to his massive stakes in the companies.
Despite better-than-expected revenue in the company's auto business, Tesla's gross margin fell below consensus estimates as the average selling price per vehicle declined. Gross margin in Q2 fell to 16.8% from 17.2% a year earlier.
