Tesla on Tuesday reported its lowest profit margin in more than five years and missed Wall Street earnings targets in the second quarter, as the electric vehicle maker cut prices to revive demand while it increased spending on AI projects.

The company said it was on track to produce new vehicles, including more affordable models, in the first half of 2025, although the models will result in achieving less cost reduction than previously expected. Shares fell 7.4% in overnight trading.

Alphabet beat second-quarter revenue and profit estimates on Tuesday, driven by a rise in digital advertising sales and healthy demand for its cloud computing services, but flagged that capital expenses would remain high for the year.

Investor reaction was mixed, with the shares initially rising about 2% before dipping by a similar percentage.

Visa’ s third-quarter revenue growth fell short of Wall Street targets in a rare miss for the world's largest payments processor as steep borrowing costs limited consumer spending, sending its shares down 2.6% in overnight trading.

Texas Instruments beat analysts' estimates for second-quarter profit on Tuesday, powered by stabilizing demand for analog chips from markets such as personal electronics and lower manufacturing costs.

Shares of Texas Instruments were up 2.4% in overnight trading, set to add to the about 16% year-to-date gain.

Solar inverter maker Enphase Energy beat analysts' estimates for second-quarter operating profit on Tuesday, driven by a recovery in demand in the United States. Shares of the company rose 6.1% in overnight trading.

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