Tesla reported second-quarter revenue of $22.5 billion, down 12% year-over-year. The company said volume production of a more affordable model is on track for the second half of 2025. reported second-quarter financial results after market close Wednesday. What Happened: Tesla reported second-quarter revenue of $22.5 billion, down 12% year-over-year. The revenue missed a Street consensus estimate of $22.8 billion according to data from Benzinga Pro. The company reported Automotive revenue of $16.66 billion, down 16% year-over-year. Tesla's earnings per share were 40 cents in the quarter, missing a Street consensus estimate of 42 cents per share. The company said revenue declined due to lower deliveries, lower regulatory credit revenue and lower average selling prices, offset slightly by growth in services and other revenue. Operating income was $0.9 billion in the quarter, down 42% year-over-year. Tesla's operating margin was 4.1% for the quarter. Tesla previously reported second-quarter deliveries of 384,122, down from 443,956 in the same quarter last year. Production of 410,244 units in the quarter was down slightly from 410,831 in last year’s second quarter. The company called the second quarter a "seminal point" in history as the beginning of a transition from leading the electric vehicle and renewable energy industries to also becoming a leader in AI and robotics. Tesla highlighted the launch of its first Robotaxi service in Austin, Texas in June. The company ended the quarter with $1.24 billion in digital assets on the balance sheet, likely related to its Bitcoin BTC/USD holdings. The value increased from $951 million in the previous quarter, following Tesla’s recent adoption of a new reporting method for valuing its cryptocurrency holdings. Trending Investment Opportunities