Last night, the three major US stock indices closed slightly lower.
The Dow Jones Industrial Average fell 57.35 points, a decrease of 0.14%; The Nasdaq fell 10.22 points, a decrease of 0.06%; The S&P 500 index fell 8.67 points, a decrease of 0.16%.
The rise and fall of large technology stocks are mixed.
Amazon rose over 2%, while Meta, Google, Apple, and Microsoft saw slight increases; Intel fell more than 1%, while Nvidia and Netflix fell slightly.
Popular Chinese concept stocks generally fell, with the Nasdaq China Golden Dragon Index falling 1.84%.
Xiaopeng Motors and iQiyi fell more than 6%, NIO fell more than 4%, Ideal Motors and Bilibili fell more than 3%, Vipshop, JD.com, Weibo, and Baidu fell more than 2%, Pinduoduo, Alibaba, and NetEase fell slightly, and Tencent Music rose more than 2%.
Tesla closed down 2.04% last night. Suddenly plummeting after hours, as of press time, the decline is 7.96%.
On the news front, Tesla's performance fell short of expectations.
After the market closed, Tesla released its second quarter financial report, with higher than expected revenue but lower than expected profits, continuing the poor start of the year with slower sales and massive layoffs.
According to the financial report, Tesla's revenue for the second quarter was $25.5 billion, higher than the market expectation of $24.8 billion. However, Tesla's Q2 operating profit was $1.605 billion, a year-on-year decrease of 33%; The net profit attributable to Tesla's common stockholders was $1.478 billion, a year-on-year decrease of 45%.
In terms of business, the total revenue of Tesla's automotive business in the second quarter was 19.878 billion US dollars, down 7% from 21.268 billion US dollars in the same period last year.
Although Tesla's delivery figures for the second quarter decreased year-on-year, there has been an improvement in delivery volume compared to the first three months of this year, with stronger sales being driven by price cuts.
But the price reduction promotion has lowered Tesla's profit margin: the gross profit margin of cars in the second quarter was 14.6%, lower than the 16.4% in the first quarter.
The decline in Tesla's Q2 performance is also related to its large-scale layoffs.
Faced with slowing sales and intensified competition, Tesla announced the layoff of over 10% of its employees.
Tesla stated that the increase in operating expenses and restructuring costs driven by artificial intelligence projects have dragged down profits.
Previously, Tesla had expected to spend over $350 million in the second quarter, mainly related to employee termination expenses.
In addition, Tesla has also postponed the launch of Robotaxi.
The most closely watched autonomous taxi in the market, Robotaxi, Tesla did not disclose a specific launch time in its financial report.
Subsequently, Musk revealed during the earnings call that the planned release of Robotaxi has been postponed from August to October.
He said last week, "I have requested significant design changes to the front of Robotaxi, and the additional time gained from the delayed release date will give the company the opportunity to showcase some other content