US Stock Movement | Tesla (TSLA.US) drops over 9% as Q2 net profit misses expectations and gross margin declines further

智通财经APP reports that on Thursday, Tesla (TSLA.US) dropped over 9%, closing at $337.38. According to the earnings report, Tesla achieved revenue of $28.24 billion in the second quarter, surpassing market expectations and increasing by 26% year-on-year, marking the first time in three years that year-on-year revenue growth exceeded 20%. However, operating profit for the second quarter was only $398 million, far below the market expectation of $1.39 billion; adjusted earnings per share were $0.33, down 18% year-on-year and also significantly missing expectations; gross margin was 16.8%, lower than analysts' expected 19.4%, compared to an overall gross margin of 21.1% in the first quarter.