The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits fell sharply again in the latest quarter.

Tesla reported a 12% drop in revenue for the year’s second quarter on Wednesday evening after CEO Elon Musk publicly feuded with President Donald Trump. The latest earnings report shows Musk’s electric vehicle company made $22.

Ratings agency Moody's reported a rise in second quarter profit on Wednesday, driven by robust gains in its data and analytics unit and an increase in government borrowing.

Moody’s Corporation (NYSE:MCO) delivered better-than-expected second-quarter results on Wednesday, powered by strong growth in its analytics division, though shares dipped 0.83% in premarket trading following the release.

Tesla had previously reported deliveries of more than 384,000 vehicles in the quarter—a drop of more than 13% from the previous year—with production holding steady at just over 410,000 vehicles. This marks the second quarter in a row of reduced year-over-year deliveries.

Tesla is slated to report its second quarter earnings after close Wednesday, as the Austin-based electric automaker sees sliding sales and continued

Tesla’s sales plunge over the last 18 months has been a stunning turn for a company that recorded only one quarterly year-over-year sales drop before 2024. And the company faces significant trouble ahead.