Tesla sees largest quarterly revenue drop in over a decade in Q2 earnings
The company took in $22.5 billion in revenue, down from $25.50 billion in the second quarter of 2024. It is the company's largest revenue drop in over a decade, according to Reuters.
The Elon Musk-helmed electric car manufacturer saw gross margin slip over a percent year-over-year, landing at 17.2%. The figure is a rebound from its first quarter readout of 16.3%.
Deliveries in the second quarter of 2025 dropped year-over-year, continuing the trend seen in the first quarter. The company delivered 384,122 vehicles in the quarter compared to 443,956 in the second quarter of 2024.
The shareholder materials called the quarter "a seminal point in Tesla's history" pointing to the company's expansion in artificial intelligence and robotics.
"Despite a sustained uncertain macroeconomic environment resulting from shifting tariffs, unclear impacts from changes to fiscal policy and political sentiment, we continue to make high-value investments," the materials read.
Musk and other executives are expected to speak on the company's earning call scheduled for 5:30 p.m. ET.
This is a developing story.
This article originally appeared on USA TODAY: Tesla earnings: Musk's carmaker sees decade high revenue drop
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