Breaking Down Tesla's Earnings Call

"I think Elon wants people to appreciate the challenges that the industry and Tesla is dealing with right now. In light of those challenges and setting the results against those, they're even more impressive," said Tesla Daily's Rob Mauer

"Maybe some of the comments on the earnings call weren't what investors were looking for," said Mauer.

Jim Cramer tweeted Monday following the call in which Musk mentioned potential future competitor Apple AAPL twice in a negative light and said that he would no longer be attending earnings calls in the future unless he had "something really important" to say.

Tesla reported adjusted earnings of $1.45 per share on revenue of $11.96 billion, easily exceeding consensus estimates of 98 cents and $11.3 billion, respectively.

The company reported a profit of $1.142 billion on a GAAP basis, marking the company's first GAAP profit with the exclusion of regulatory credit sales, according to Tesla Daily.

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Tesla also added that it took a $23 million impairment hit on its Bitcoin holdings over the second quarter and that revenue from the sale of regulatory credits was pegged at $354 million.

Watch TheStreet Live: Tesla Earnings and Beyond - Watch Jim Cramer, Tesla Daily's Rob Maurer

Tesla shares on Tuesday were down 2% at $644.31 at last check.

Stocks fell Tuesday during the first leg of Federal Reserve's two-day meeting policy meeting. 

Stocks finished higher Monday and the three major stock exchanges closed at record highs Monday as Wall Street readied for a big week of earnings. 

Apple  (AAPL) - Get Apple Inc. (AAPL) Report, Microsoft  (MSFT) - Get Microsoft Corporation (MSFT) Report and Alphabet  (GOOGL) - Get Alphabet Inc. Class A Report, the parent company of Google, will be reporting earnings after Tuesday's closing bell.

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