Tesla’s second-quarter revenue came in at $24.97 billion, compared to analysts’ estimates of $24.7 billion, The Guardian reports. Shares fell after the earnings call failed to convince shareholders well enough regarding Tesla’s promised cyber car rollout and other production issues.

The report comes after Tesla cut costs on its most popular car models and achieved a significant increase in sales. Earnings came in at $0.91 per share compared to expectations of $0.79.

Although gross margin for the quarter came in at 18.2%, representing a four-year low for Tesla, it was higher than analysts’ expectations of 17.5%.

“Despite lower car prices, the company managed to mitigate the already-expected decline in margins, showcasing Elon Musk’s adeptness at steering the company through both prosperous and challenging times,” said Thomas Monteiro, a senior analyst at financial analysis site Investing.com.

Tesla produced 460,211 Model 3 compact cars and Model Y sports cars – its mainstream models – compared with 345,988 in the same quarter last year and 19,489 deliveries of Model S and Model X premium cars compared with 16,411 at the same time last year.

Musk seems to have failed to impress the participants in talks. Shareholders have expressed concern before that Musk is shouldering too much. This month he even announced the creation of another company, xAI, which he described as a “pro-human” artificial intelligence firm that will develop technology that will be integrated into both Twitter and Tesla.

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