Tesla shares took a hit Thursday after the company reported a 16% decline in automotive sales and a 12% decline in total revenue for the second quarter compared with one year ago.

Tesla shares tumbled in extended trading Wednesday after the EV maker's quarterly results fell short of Wall Street’s expectations and CEO Elon Musk warned of a "few rough quarters" ahead. Monitor these key chart levels.

Tesla missed profit targets for a fourth straight quarter and postponed its Robotaxi event, dragging other EV names lower.

Elon Musk's electric-vehicle maker reported a 12% drop in quarterly revenue, and a steeper decline in net income. + Musk highlighted plans to release a lower-priced Model Y electric vehicle, spoke about his hopes for a new pay package and talked up plans to roll out Tesla robotaxis more widely.

One of the more glaring omissions from Tesla’s late Wednesday earnings was that the EV maker Tesla did not update its 2025 outlook as promised.

Gordon Johnson, CEO and founder of data firm GLJ Research, who is bearish on Tesla, said the boost in revenue from government credits afforded the company a financial lifeline eve