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Tesla's Energy And Storage Segment Doubles Revenue In Q2 To Make Up For Decline In Car Sales

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Tesla's Energy And Storage Segment Doubles Revenue In Q2 To Make Up For Decline In Car Sales - Benzinga

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The fall in revenue from the sale of cars was balanced by the rise in revenue from the company’s energy segment which totaled $3 billion.The company deployed 9.4 GWh of energy storage products in the quarter, marking its highest quarterly deployment to date, and over twice the 4.1 GWh deployed in the first quarter.

EV giant Tesla Inc.(NASDAQ:TSLA) reported a whopping 100% year-on-year jump in revenue from its energy generation and storage segment in the second quarter, even as revenue from the automotive segment dipped.

What Happened: Tesla on Tuesday reported year-on-year growth of 2% in total revenue for the second quarter to $25.5 billion, despite a 7% drop in revenue from its automotive segment.

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Article Details

Author / Journalist: Anan Ashraf

Category: Technology

Markets:

Topics:

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Article Type: News Report

Published On: 2024-07-25 @ 11:02:28 (20 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 464 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21771757

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