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Story summary
- Tesla reported Q2 net income of $1.11 billion, or $0.32 per share, falling short of the $0.53 forecast.
- Revenue climbed 26% to $28.24 billion, surpassing the $26.42 billion estimate.
- Research and development spending surged 49% year-over-year to $2.37 billion, the highest level in four quarters.
- CFO Vaibhav Taneja said capital expenditures will exceed $25 billion this year and continue rising for 2–3 years.
- Tesla delivered 480,216 vehicles, a 25% year-over-year increase, led by Model Y and Model 3.
