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Tesla's second-quarter revenue was higher than expected, but its net profit was lower than expected. In the subsequent earnings call, Tesla's vague outlook on its product line once again affected investor sentiment, and its stock price fell more than 8% after the U.S. market closed.

On July 24, Tesla released its financial report showing that the company's second-quarter revenue was $25.5 billion, a year-on-year increase of 2%, higher than analysts' expectations of $24.54 billion; net profit was $1.478 billion, a year-on-year decrease of 45%, lower than analysts' expectations of $1.806 billion; adjusted earnings per share were $0.52, lower than $0.91 in the same period last year, and lower than analysts' expectations of $0.6; gross profit margin was 18%, higher than analysts' expectations of 17.4%.

Tesla said that despite the difficult operating environment, it still achieved record quarterly revenue in the second quarter. Its energy storage business continued to grow rapidly, with power generation reaching 9.4GWh in the second quarter, a record high.

In terms of automobiles, Tesla said that as overall consumer confidence improved, car deliveries rebounded month-on-month in the second quarter, and global electric vehicle penetration resumed growth in the second quarter and is taking market share from fuel vehicles.

Delivery data showed that Tesla produced 410,800 vehicles in the second quarter of this year, a year-on-year decrease of 14%; delivered 444,000 vehicles, a year-on-year decrease of nearly 5%, but a month-on-month increase of 14%, higher than market expectations. Tesla also said that the company deployed 9.4GWh of energy storage products in the second quarter, which is the highest quarterly deployment volume to date.

It is worth noting that after the release of Tesla's financial report, its stock price fell 5% after hours. The information revealed in the earnings call obviously did not satisfy investors. As the earnings call progressed, its stock price fell by more than 8%.

Affordable models will be delivered in the first half of next year, and Robotaxi is scheduled to be released in October

The affordable version of the car is still one of the focuses of outside attention, but Tesla has not disclosed relevant details.

Musk mentioned in his opening speech that a more affordable model is expected to be delivered in the first half of 2025. However, he also emphasized that Tesla will not talk too much about the product roadmap during the earnings call.

In response to questions from analysts, Musk emphasized that he did not want to reveal any details about future cars because this might affect near-term sales.

Musk said the electric vehicle market is more competitive now, and he also noted that competitors have introduced price discounts on electric vehicles, which is a challenge for Tesla, but not in the long run.

When asked by an analyst whether Tesla would be negatively affected by the possible end of subsidies for electric vehicles after Trump's election, Musk responded, "It will have some impact, but it will be a devastating blow to our competitors." He went on to emphasize that Tesla's value is highly dependent on autonomous driving, and said that if investors do not believe that the company will solve the problem of autonomous driving, they should sell the stock.

In addition, Musk mentioned that Tesla Robotaxi is scheduled to be released on October 10. The reason for the delay in the release of the car is that he requested changes to the vehicle design. He also reiterated the advantages of Robotaxi, saying that Robotaxi vehicles can be used 24/7, can be full-time members of the fleet or part-time contributors, and car owners will share profits directly with Tesla.

As for the humanoid robot Optimus, Tesla said that thousands of humanoid robots will be produced in the company's factories and perform useful tasks next year. Musk estimates that Optimus will begin limited production next year.

When an analyst asked how artificial intelligence will affect automotive revenue, Musk replied that Optimus's contribution to the company's revenue may exceed the sum of all the company's other business units. He believes that global customer demand for humanoid robots will reach 22 million units, and Optimus will be in a leading position. "We have all the elements. I think we are the only company that has all the elements in humanoid robots."

Overall, Tesla has not given a detailed introduction or outlook on products that investors are concerned about, such as low-priced models, Robotaxi, and Optimus.

In the financial report, Tesla emphasized that the focus remains on company-wide cost reduction, developing traditional hardware business, and accelerating the development of AI products and services. Although the deployment timing of Robotaxi depends on technological progress and regulatory approval, the company is actively seizing this opportunity given its huge potential value.

FSD is expected to enter the Chinese market before the end of this year

In the earnings call, Musk emphasized that FSD (full self-driving) has made great progress, and the parameters of version 12.5 are five times that of version 12.4. He encouraged Tesla owners to try FSD, saying that "full self-driving will become a huge demand driver."

Tesla said that in the second quarter, Tesla lowered the price of FSD in North America and launched a free trial to everyone who has the necessary hardware. These programs have been successful and laid the foundation for more meaningful FSD commercialization. As FSD capabilities improve and users become more aware of its convenience and safety, FSD installation rates are expected to increase.

Regarding how FSD can be used by other car companies, Musk confirmed that the hardware must be upgraded and equipped with cameras and gateways with cellular and Wi-Fi functions. He expects that it will take several years to see such products in mass production. He also added that it depends on which car company is authorized and there must be a minimum production requirement.

It is worth noting that Musk also mentioned that FSD will be available in China, Europe and other countries after the release of version 12.6. After these versions are launched, the company will submit them to relevant regulatory authorities for approval, and it is expected to be approved before the end of the year.