Tesla (TSLA) saw a widespread sell-off after its earnings, with the stock price falling by nearly 6%, severely weighing on the discretionary consumer sector.

After adjustments in Q2, earnings per share were only $0.31–$0.33, far below the market consensus expectation of $0.51.

Although revenue rose to $28.24 billion (above expectations), the gross margin fell to 16.8% due to a decline in average selling prices for cars and a reduction in regulatory credit income.

To drive AI and robotics R&D, capital expenditures surged 142% to $5.79 billion in the quarter, turning free cash flow from positive to negative (net outflow of $1.1 billion).

The pain of shrinking traditional auto profitability alongside massive spending on frontier technology is becoming evident.

‍$TSLA

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