Thursday, 16 August 2018
Latest news
Main » Tesla posts record $717 million net loss in second quarter

Tesla posts record $717 million net loss in second quarter

02 August 2018

Electric auto maker Tesla burned through $US739.5 million ($1 billion) in cash last quarter, paving the way to a company record $US717.5 million net loss as it cranked out more electric cars.

Tesla said it lost $4.22 per share as revenue grew 43 percent to just over $4 billion from April through June.

The company cut its capital spending plans and said it would not hit its long-term rate of producing 10,000 Model 3s per week until next year, trading off production ramp speed for financial health.

Drug cartel puts price on dog's head after cocaine bust
Reports on the bounty's size vary between 20 and 200 million Colombian pesos (between $9540 and 94,124 in Australian dollars). She is reportedly transported to and from the airport in a van with tinted windows, flanked by two armed officers.

In its last production call in early July, Tesla had barely made its goal of producing 5,000 of the cars a week by the end of June-and that for only a week and by the skin of the company's new tent that houses the car's second production line. In a letter to investors, Tesla called this a "significant achievement", something it expects to jump by around 15-percent in its third quarter and 20-percent in its fourth quarter.

Tesla reported its largest quarterly loss in its history on Wednesday and burned through $430 million in cash over three months.

During today's call, Musk apologized to both analysts. Tesla expects to make 50,000 to 55,000 Model 3 cars this quarter. He also said he wants to link "Pole Position" to an actual vehicle steering wheel so players can use it as a controller - while stationary, of course. But it is also the most heavily shorted company on Wall Street, with an army of investors betting billions that the cash-burning company's turbulence would ensure its imminent collapse.

Trump Has Repeatedly Tried to Ban or Punish Reporters Who Annoy Him
He added that he would consider a visit to Washington but noted there must be "necessary conditions", without further explanation. Russian Federation and the United States have a stake in that, the whole word has a stake in that, in not starting an arms race.

Tesla ended the second quarter with US$2.78 billion in cash after spending US$609.8 million in quarterly capital expenses.

Back then, Musk derided analysts for asking about capital needs, dismissing their queries by calling them "boring, boneheaded questions" and then taking a series of more sympathetic questions from a small shareholder who was well-informed about Tesla and bullish on its future.

Tesla stock climbed as much as 5.7 per cent to US$317.95 as of 5 p.m.in NY. Additionally, it seems Tesla is keen to get unique game content into its cars, as Musk also tweeted job opportunities for game developers.

"Dance On Floors, Not On Roads": Delhi Police On Kiki Challenge
Ahram Online is reporting that participating in the dance challenge in Egypt could land you in jail. He first posted the dance on June 30 encouraging his 1.6 million followers to #DoTheShiggy.

Tesla's website describes upcoming features - including the ability for a vehicle to change lanes without driver input, move from one freeway to another, and exit a freeway near the driver's destination - that are not available in Autopilot's current iteration.

Tesla posts record $717 million net loss in second quarter