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Tesla Profits Fall as R&D Spending Cuts Into Car Sales Earnings

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Sig2.80Sen-2.20Env0.00Soc-0.70Gov-0.80

Tesla reported lower second-quarter profits despite a 26% revenue increase driven by higher vehicle deliveries. Net income fell to $1.11 billion versus $1.17 billion a year earlier, and earnings excluding charges dropped to 33 cents per share. Research and development rose about 49% to $2.37 billion, cutting into profitability even as sales beat expectations.

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