Tesla's second-quarter results fell short of Wall Street expectations, hitting the electric car maker, which is working to build new businesses around robotics, autonomous driving, and artificial intelligence. Tesla said in a statement Wednesday that adjusted earnings per share were 33 cents. That's less than the average analyst estimate of 51 cents. The company also reported negative free cash flow of $1.09 billion. Tesla CEO Elon Musk previously warned that this year's total spending would exceed $25 billion. The company is planning to comprehensively increase production of cars, batteries, and robots at six plants to fulfill his vision for the future. The impact of these investments is now gradually being reflected in the company's financial performance, so investors want more details. As of 4:16 p.m. New York time, Tesla's stock price fell 2.8% after the market. By Wednesday's close, the stock had a cumulative decline of 17% this year.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.