Tesla Q2 profits below expectations
Tesla's profits in the second quarter came in below Wall Street expectations, at 33 cents per share compared to estimated earnings of 51 cents. The company also recorded a negative free cash flow of $1.09 billion, amid substantial investments exceeding $25 billion in industrial expansions, which impacted its financial results. Although Tesla exceeded vehicle sales forecasts for the second quarter by over 480,000 cars, the robotics and autonomous driving projects remain unprofitable, leading to a decline in the company's stock in the market.
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