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Tesla Shares Rally Despite Slowdown In Profits, Impact From China Shutdown

News Snapshot:

Topline Shares of Tesla jumped late on Wednesday after the company reported second-quarter results that beat Wall Street expectations, despite analyst concerns about production taking a hit from months of Covid lockdowns in China. Key Facts Tesla’s stock rose nearly 1% in after-hours trading after the electric vehicle maker reported mixed earnings , which showed production in the second quarter taking a hit from supply chain disruptions and a factory shutdown in China. Tesla reported quarterly revenue of $16.9 billion—up 42% from a year ago but down from a record high of $18.7 billion in the previous quarter—while profit came…

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