Earnings at Musk’s car company fall as research spending cut into profit from selling cars

Earnings at Musk’s car company fall as research spending cut into profit from selling cars

Tesla said Wednesday that its profits fell last quarter as the car company run by Elon Musk shoveled more money into research and development, cutting into profits from a sharp increase in vehicle sales. The Austin, Texas, company reported second-quarter net income of $1.11 billion, or 32 cents per...

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