Bitcoin News Today: Tesla Q2 Revenue Drops 12% as Shares Fall 5% Amid Robotics Pivot and Bitcoin Gains to $1.23B

Tesla Inc. reported a 12% year-on-year revenue decline in its June quarter, missing Wall Street forecasts and sending shares down nearly 5% in after-hours trading [3]. The electric vehicle maker’s total automotive revenue fell 16%, driven by a broader market slowdown and saturation concerns [1]. CEO Elon Musk, however, pivoted focus to robotics and lifestyle ventures, unveiling a retro-themed Tesla Diner in West Hollywood and showcasing robot servers in “cute outfits” during a recent X post [1]. The diner, which features robot-served popcorn and a drive-in movie setup, drew long lines and social media attention, even as Tesla’s financials raised red flags among investors [4].

Musk emphasized progress on the Tesla Optimus humanoid robot during an earnings call, which gained viral traction after promotional appearances [5]. The robot’s pop-culture appeal—serving food and engaging with customers—has overshadowed the earnings report’s negative headlines [1]. Meanwhile, Tesla’s Bitcoin holdings surged to $1.23 billion in the June quarter, reflecting Bitcoin’s price rally rather than new purchases [1]. CFO Vaibhav Taneja noted that the company’s Q2 other income rose to $284 million from a Q1 loss of $125 million, partly due to mark-to-market adjustments on crypto assets [1]. According to Nansen, Tesla ranks 10th among publicly traded companies for Bitcoin holdings, with 11,509 BTC worth $1.36 billion [1].

The Tesla Diner, described as a “retro futuristic” concept, includes 80 charging ports, roller skates, and a drive-in movie setup [4]. While the restaurant’s profitability remains unproven, it aligns with Musk’s vision of diversifying Tesla’s brand beyond vehicles [4]. The diner’s menu, however, has drawn criticism for high prices, with the Tesla burger costing $13.50 and exceeding $21.50 with add-ons [1]. A Grok AI chatbot noted the pricing aligns with upscale diners but exceeds budget chains [1].

Analysts suggest the earnings miss reflects both macroeconomic pressures and strategic shifts under Musk’s leadership. “The market is punishing Tesla for slower vehicle sales growth, but Musk’s focus on robotics and lifestyle branding is a calculated pivot,” one Reddit user observed, noting that investors might chase the upcoming “lower cost model” announced alongside the earnings [2]. The earnings report also hinted at cost-cutting measures, though details remain vague [2].

The juxtaposition of financial underperformance and high-profile ventures highlights Tesla’s evolving identity. While the Q2 results signal waning revenue growth, Musk’s push into robotics and experiential retail could reframe Tesla as a technology and lifestyle brand [1]. The diner’s success in generating buzz—despite mixed financial outcomes—suggests Tesla’s brand still holds cultural capital. For now, investors remain divided, balancing near-term risks against Musk’s ambitious roadmap [1].

Sources:

[1] [Tesla stocks fall Q2 earnings miss Elon Musk robot](https://cointelegraph.com/news/tesla-stocks-fall-q2-earnings-miss-elon-musk-robot)

[2] [Tesla earnings just released 1:14PM PT](https://www.reddit.com/r/teslainvestorsclub/comments/1m7jwq2/tesla_earnings_just_released_114pm_pt_missed/)

[3] [Tesla Misses on Q2 Earnings as Revenue Drops 12%](https://www.instagram.com/p/DMdyb91PtfT/)

[4] [Roller Skates, Robots, 80 Plugs: Tesla's Diner](https://www.yahoo.com/lifestyle/articles/roller-skates-robots-80-plugs-193256141.html)

[5] [5 big takeaways from Tesla's Q2 earnings call](https://www.msn.com/en-us/money/markets/5-big-takeaways-from-tesla-s-q2-earnings-call/ar-AA1Jbg70?cvid=68D37F976BCF430D9700984D1B6416C6&ocid=hpmsn)