Revenue was $22.5 billion, down approximately 12% year over year, the sharpest decline in at least a decade. Adjusted earnings per share was 40 cents, down from 52 cents a year ago.

The stock was rising. The EV maker announced second-quarter adjusted earnings per share of 40 cents from sales of $22.5 billion. Wall Street was looking for 39 cents from sales of $22.1 billion.