ME News reports that, as of July 23 (UTC+8), according to data from MSX.COM, Tesla’s stock price declined by 12% to $329.015 per share, with a total market capitalization of $1.24 trillion. The earnings report revealed that Tesla generated $28.24 billion in revenue for the second quarter, surpassing market expectations and marking a 26% year-over-year increase—the first time in three years that quarterly revenue growth exceeded 20%. However, second-quarter operating profit amounted to only $398 million, significantly below the expected $1.39 billion; adjusted earnings per share stood at $0.33, an 18% year-over-year decline and well below forecasts; gross margin came in at 16.8%, below analysts’ expectations of 19.4% and down from 21.1% in the first quarter. Notably, Tesla’s free cash flow for the second quarter was -$1.09 billion—the first negative quarterly figure since Q1 2024. Tesla executives stated that the negative free cash flow resulted from capital expenditures more than doubling quarter-over-quarter, and they reiterated that capital spending is expected to continue rising over the next two to three years, with full-year capital expenditures projected to exceed $25 billion. (Source: ODAILY)
Tesla stock drops over 12% amid missed Q2 earnings and narrowing margins.
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Summary
Tesla stock fell more than 12% to $329.015 on July 23, 2026, as the Fear & Greed Index turned sharply negative. Q2 revenue reached $28.24 billion, a 26% year-over-year increase, but operating profit of $398 million missed forecasts by over $1 billion. Adjusted EPS declined to $0.33, below expectations. Gross margin dropped to 16.8%, and on-chain data revealed free cash flow turned negative at -$1.09 billion. Capital expenditures doubled in Q2 and are projected to exceed $250 billion this year.
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