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Jewish News 24 · Jul 22, 2026

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Tesla said Wednesday that its profits fell last quarter as the car company run by Elon Musk shoveled more money into research and development, cutting into profits from a sharp increase in vehicle sales. The Austin, Texas, company reported second-quarter net income of $1.11 billion, or 32 cents per share. That is compared to earnings of $1.17 billion, or 33 cents per share, in the same quarter last year.

Tesla said Wednesday that its profits fell last quarter as the car company run by Elon Musk shoveled more money into research and development, cutting into profits from a sharp increase in vehicle sales. The Austin, Texas, company reported second-quarter net income of $1.11 billion, or 32 cents per share. That is compared to earnings of $1.17 billion, or 33 cents per share, in the same quarter last year.

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