Elon Musk's fast-growing electric vehicle maker reported second-quarter profits of $1.1 billion, down about 5% from the year-ago level.
Tesla reported weaker-than-expected quarterly profits on Wednesday despite increased auto sales, depressing shares in after-hours trading amid questions over massive capital spending plans.
Elon Musk's fast-growing electric vehicle maker reported second-quarter profits of $1.1 billion, down about 5% from the year-ago level. That translated into 33 cents per share compared with analyst estimates of 53 cents per share.
Revenues rose 26% to $28.2 billion.
Tesla had impressed market watchers earlier this month when it released higher-than-expected second-quarter auto sales, due in part to a recovery in European markets.
