Tesla shares drop after co-founder's departure and disappointing earnings

Tesla’s longtime chief technology officer , who helped create the company, is stepping down after 16 years, CEO Elon Musk told analysts on the earnings call Wednesday. The news followed the disclosure that Tesla reported a larger than expected loss — $408 million — in the second quarter.

Straubel's departure comes amid a tumultuous year for the electric car manufacturer as it struggles bringing its long-promised affordable Model 3 electric car to the mass market. In January, Tesla announced job cuts of 7% of its workforce, just six months after it cut 9% of its staff.

Tesla

freedomtodrive help our mission to preach freedom to drive in the planet and God will bless the company more

Automobile business is tough.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Stocks making the biggest moves after hours: Facebook, Tesla, Ford, PayPal and moreSee which stocks are posting big moves after the bell on July 24.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »

Tesla set to report second-quarter earnings after the bellTesla is set to report second quarter earnings after the bell. Analysts expect revenue of $6.41 billion, losses per share of 40 cents, according to Refinitiv. Too soon elonmusk or too real?
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »