Tesla Shares Slide After Mixed Second-Quarter Earnings

Tesla shares fell after the electric vehicle maker reported mixed second-quarter results that missed Wall Street earnings expectations, although its cash burn was lower than analysts had anticipated.

Tesla investors reacted cautiously after the company's mixed second-quarter earnings report.

Investors also appeared to be seeking more details about the company's artificial intelligence initiatives, Pras Subramanian reported for Yahoo Finance.

Tesla reported second-quarter revenue of $28.24 billion, exceeding the Bloomberg consensus estimate of $26.32 billion and rising 26% from a year earlier.

Adjusted earnings per share came in at $0.33, below analysts' expectations of $0.50, while adjusted EBITDA totaled $3.2 billion, missing the estimated $4.0 billion.

Tesla shares fell more than 6% in premarket trading as investors weighed the revenue beat against the earnings miss.

The company also said production of its Optimus humanoid robot remains on track to begin later this year.

"The initial Optimus builds will be used in our Optimus Academy for training data collection and further functionality development," Tesla said.