The decline is despite Tesla recording a 26pc growth in revenue, with EV sales alone bringing in more than $20bn.

Tesla's profits fell last quarter as the car company run by Elon Musk shoveled more money into research and development, cutting into profits from a sharp increase in vehicle…

The company’s second quarter revenues are up 26 percent year over year, but its profits are down 5 percent.

Q2 2026 was profitable, but barely.

Shares fell 2.8 per cent after the closing bell on Wall Street

Tesla reported second-quarter profits of US$1.1 billion, down about 5 per cent from the year-ago level.