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Tesla earnings fall on hit from China Covid surge – Local News 8

July 21, 2022
Source: localnews8.com localnews8.com
News Snapshot:
By Chris Isidore, CNN Business Lockdowns caused by the Covid surge in China caused sales and profits to fall at Tesla compared to the first three months of the year, the first time since the pandemic surfaced in early 2020 that the company did not report a record profit. Tesla reported adjusted income of $2.6 billion in the second quarter, down from the $3.7 billion in the first quarter, but $1 billion more than it earned a year earlier. Revenue of $16.9 billion in the quarter fell 10% from the first quarter, but was up 42% from a year ago....
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