Tesla (TSLA) reported second quarter adjusted earnings per share of $0.52, missing Street expectations of $0.60. Free cash flow also fell short, $1.34 billion versus the estimated $1.92 billion.

Revenue, however, was a beat of $25.50 billion versus the estimated $24.63 billion. Gross margin of 18% was better than the expected 17.4%.

In the release, the company says "our focus remains on company-wide cost reduction, including reducing COGS per vehicle, growing our traditional hardware business and accelerating development of our AI-enabled products and services. Though timing of Robotaxi deployment depends on technological advancement and regulatory approval, we are working vigorously on this opportunity given the outsized potential value."

Market Domination Overtime anchors Julie Hyman and Josh Lipton break down Tesla's latest quarterly earnings report.

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This post was written by Stephanie Mikulich.