Tesla Earnings Miss

It's been Zynga bringing Wall Street to Main Street. Tesla's second quarter earnings missed expectations, though revenue beat estimates, sending shares down about 4% in extended trading. Adjusted earnings came in at $0.33 per share, missing the $0.51 estimate, while revenue of $28.24 billion topped expectations of $25.71 billion. Shares fell about 11% this month and 17% this year, while SpaceX has dropped more than 40% from its June peak. Automotive revenue rose 23% to $20.52 billion, energy revenue increased 13% to $3.14 billion, and services revenue jumped 50% to $4.58 billion. Gross margin fell to 16.8% from 17.2% a year earlier, missing the 19.4% estimate as lower vehicle prices and regulatory credit revenue offset stronger auto sales. Musk is shifting Tesla's focus from vehicle sales toward Robotaxis and Optimus humanoid robots designed for roles ranging from factory work to child care and surgery. For all things money, visit Benzinga.com.