Tesla reports huge Q2 Loss, Shares plunge 10 percent
Tesla shares have plunged as the electric carmaker reported a bigger loss in Q2. Tesla reported a second-quarter loss of $408 million or $1.12 per share compared to the loss of 40 cents forecast by analysts.
Shares tumbled 10 percent to USD 238.39 in after-hours trading.
Overall revenues jumped 66 percent from a year earlier to $5.2 billion as Tesla reported sharply higher deliveries of its Model 3, the most affordable vehicle in its lineup and the hope for giving the company a wider customer base."We achieved record deliveries of 95,356 vehicles and record production of 87,048 vehicles, surpassing our previous quarterly records," Tesla said in a letter to investors.
"This is an important milestone as it represents rapid progress in managing global logistics and delivery operation...