US Stock Market News | Tesla falls more than 11%, Q2 operating profit significantly declines

On Wednesday, Tesla's stock price fell, with the stock down over 11% to $217.5 as of the time of writing. Tesla's total revenue in the second quarter exceeded expectations, with operating profit and earnings per share (EPS) both significantly declining. Second-quarter revenue was $25.5 billion, a 2% year-on-year increase, analysts expected a 1.2% year-on-year decrease to $24.63 billion, with automotive revenue at $19.88 billion, down 7% year-on-year, and energy generation and storage revenue at $3.014 billion, doubling year-on-year. Second-quarter operating profit was $1.605 billion, down 33% year-on-year, analysts expected a 24.6% year-on-year decrease to $1.81 billion. Non-GAAP diluted EPS in the second quarter was $0.52, down 43% year-on-year, analysts expected $0.60, down 34% year-on-year