Tesla’s Q2 financial report is dismal, Robotaxi release postponed to October! No Bitcoin sold

This site (120bTC.coM): Electric vehicle manufacturer Tesla (Tesla) announced its second-quarter financial results earlier. Due to lower-than-expected profits, sales fell for the second consecutive quarter, and profit margins fell. to its lowest level in five years, dragging down Tesla's stock price by more than 8% after the bell.

Key data of Tesla’s second quarter financial report:

• Revenue: US$25.5 billion, an annual increase of 2%.

• Profit: Earnings of 52 cents per share, below analysts’ expectations.

• Vehicle sales: US$19.9 billion, an annual decrease of 7%.

• Automotive department gross profit margin: 14.6%, lower than 18.1% in the same period last year.

Another concern of the currency community is that Tesla’s Q2 financial report showed that it held US$640 million worth of Bitcoins that it had not sold.

Musk postponed the release of Robotaxi to 10/10

On the other hand, Robotaxi, the self-driving program that has recently been considered to be the key to Tesla’s next revenue growth, Musk said in his opening speech at the earnings conference that Tesla The self-driving taxi launch conference will be held on October 10, delayed from the originally proposed August 8 date, and it was admitted that past predictions were somewhat too optimistic.

In addition, when Musk was asked during the Q&A session when shareholders could see "the first self-driving taxi on the road," he said: "I would be shocked if we couldn't do it next year."

In addition, he added , Robotaxi is expected to be widely used in the United States and elsewhere without major regulatory hurdles. He also singled out the services of rival Google's Waymo, calling them "limited" and "fragile," saying that the Tesla system will be able to operate globally and not be limited to specific regions.

Tesla officials said on Tuesday: The deployment time of Robotaxi depends on technological progress and regulatory approval. In this regard, analyst Thomas Monteiro said: Tesla investors may need results more than at any time in the company's recent history. Whether it's a humanoid robot or a robotaxi, these results must be achieved quickly.

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