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.

Elon Musk warned that Tesla could face "a few rough quarters," as it weathers shifting tariffs and the end of EV tax credits in the US.

Tesla reported second-quarter revenue of $22.5 billion, down 12% year-over-year. The company said volume production of a more affordable model is on track for the second half of 2025.

The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits dropped sharply again in the latest quarter. The car company that has faced boycotts for months said Wednesday that revenue dropped 12% and profits slumped 16% in the three months through June as buyers continued to stay away.

AI positivity drove Alphabet's shares to new heights, but Musk's "rough quarters" warning saw Tesla's share price slump

Tesla sold three-quarters of its bitcoin holdings at a time when the crypto market was tanking, meaning the EV maker has largely missed out on the rebound.

AUSTIN] Tesla fell short of Wall Street’s expectations in one of the automaker’s worst quarters in years, a sign of the toll that rising competition and a backlash against chief executive officer Elon Musk have taken on the company.

Tesla shares sank Thursday after CEO Elon Musk said the company could face a “few rough quarters” as it transitions to a future focused less on selling cars and more on offering people rides in self-driving cars.