For the second quarter, Tesla (NASDAQ: TSLA) reported revenue of $24.9 billion, which was a 47% increase versus the year-ago period. That growth is impressive without a doubt, particularly given the macroeconomic headwinds and higher interest rates. Moreover, last quarter’s sales exceeded Wall Street expectations.
But it wasn’t all good news for the leading electric car (EV) company. Tesla’s profitability is taking a noticeable hit, and things could be challenging as we look toward the future.
Here’s what investors should know before deciding if they should buy this top auto stock.
Continue reading