Due to the drag from negative free cash flow, Tesla's stock saw its initial trading drop widen to 12%.

BlockBeats News, July 23rd, according to BIT (bit.com) market data, Tesla's stock plunged 12% at the opening, to $329.015 per share, with a total market value of $1.24 trillion.

This morning, Tesla released its financial report. The company achieved a second-quarter revenue of $28.24 billion, exceeding market expectations, with a year-on-year growth of 26%, marking the first time in three years that revenue growth has exceeded 20% year-on-year. However, the operating profit for the second quarter was only $398 million, far below the market's expectation of $1.39 billion. The adjusted earnings per share were $0.33, an 18% year-on-year decrease, significantly below expectations.

It is worth noting that Tesla's free cash flow for the second quarter was -$1.09 billion, the first negative value in a single quarter since the first quarter of 2024.