Analysts expect the Austin, Texas-based company to report quarterly earnings at 40 cents per share, down from 52 cents per share in the year-ago period. Tesla projects to report quarterly revenue at $22.13 billion, compared to $25.5 billion a year earlier, according to data from Benzinga Pro.

Tesla's market cap fell below $1 trillion, but it still reflects investors' assumptions of enormous future growth.

Tesla's more affordable model started production in June and is a cheaper Model Y, the company said on its Q2 earnings call.

Tesla reported a major stumble in Q2, which has its investors fretting over the future. Sales tanked 12% year-over-year to $22.5 billion, while net income slid 16% to $1.17 billion. On top of that, adjusted EPS dropped 23% to just 40 cents, underscoring soft momentum that’s been weighed down by waning EV demand.

Tesla reported a slight earnings and revenue miss in the second quarter, but said its 'more affordable' model was still slated for production in the second half of 2025.

Tesla's earnings are due today with an investor call at 5:30 p.m. ET. Elon Musk's politics have rocked TSLA stock, with shares down 18% YTD.

Tesla TSLA after the stock market closed reported second-quarter earnings falling 23% with sales also dropping. The conference call began at 5:30 p.m. ET with all the focus will be on CEO Elon Musk's comments, especially regarding the robotaxis. TSLA shares angled lower after the earnings report.

Tesla, Inc.'s declining fundamentals and unsustainable valuation signal risk. Click for key TSLA challenges and why a Strong Sell rating targets $130–$140.