Tesla Sales Fall Most in a Decade in Rough Second Quarter

Good morning. Tesla falls short of Wall Street estimates as scandal and competition take a toll. Adani Group scraps its super app ambitions. And Nintendo’s Switch 2 notches another high score. Listen to the day’s top stories.

Tesla’s report came up short as brand sentiment and rising competition continued to weigh on the automaker’s performance. Second-quarter revenue fell 12%, the sharpest decline in at least a decade. All in all, the report was free of new bombshells and light on guidance. Alphabet’s earnings were more of a mixed bag: better-than-expected revenue was overshadowed by capital expenditures now forecast to be higher for the year.