Thursday, March 28

Tag: Tesla Shares drop

Tesla reports huge Q2 Loss, Shares plunge 10 percent
Market

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 operatio...