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Woman Walks Past Tesla Showroom Featuring Display Vehicle in Chongqing
A woman walks past a Tesla showroom (Cheng Xin/Getty Images)

Tesla just reported its biggest quarterly drop in deliveries ever

The EV company sold about 60,000 fewer vehicles than it did in Q2 2024.

Rani Molla

Tesla delivered 384,122 vehicles in the second quarter, down about 60,000 from the same quarter a year earlier. That’s worse than analysts expected, Tesla’s biggest year-over-year quarterly decline ever, and the second quarter in a row with a record drop.

Still, investors are shaking off the report, bidding the stock up 5.6% in premarket trading after Tesla got hammered Tuesday, when Elon Musk’s flame war with Donald Trump reignited.

Analysts had been expecting a bloodbath. FactSet’s consensus estimate was 387,000 ahead of the report, 13% lower than the year before. Many analysts had much lower guesses, including Deutsche Bank, Troy Teslike, and JPMorgan, whose estimates ranged from 355,000 to 360,000.

For the full year, analysts on average expect sales to decline about 6%, according to FactSet prior to the report.

While the stock has ridden high the past few months on optimism over the company’s now launched robotaxi program, Tesla has also faced numerous headwinds, including flagging demand, fierce competition, and a couple of public feuds with President Donald Trump.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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