Tesla reports second quarter revenue slump after a struggle to meet demands

Total revenue fell to $16.93bn in the second quarter, down from $18.76bn a year earlier, ending a streak of record revenue that the company has seen in recent quarters. Analysts were expecting revenue of $17.10bn.

In its earnings report, Tesla said the company continues to experience manufacturing slowdowns due to supply chain and other issues which limited its ability to consistently run its factories at full capacity. While the Shanghai Gigafactory was fully and then partially shut down for much of the quarter, the company reported a record monthly production level at that location.

Reuters contributed reporting