Thursday August 04, 2016

Tesla Motors Posts $293M Second Quarter Loss

I think it goes without saying that, after posting a whopping $293 million loss, Elon musk is being a bit optimistic when he told investors "I feel we’re in a good place at this point." I'd hate to see what he calls being in a "bad" place. wink

The most recent in a string of quarterly losses was much worse than Wall Street expected for the company, which is ramping up production of its Model X sport utility vehicle and making plans for its Model 3 mass-market sedan. Tesla’s mainstay car is the Model S sedan. Tesla’s revenue rose 33% from a year earlier to $1.27 billion, but its operating expenses jumped 34% to $512.8 million.