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Tesla's Second-Quarter Losses Deepen
Tesla Inc. more than doubled revenue to $2.8 billion in the second quarter. But the company’s net loss expanded to $336 million from $239 million.
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Tesla Inc. more than doubled revenue to $2.8 billion in the second quarter. But the company’s net loss expanded to $336 million from $239 million. Both figures were better than analysts expected.
Deliveries of Tesla’s pricy Model S sedan and Model X crossover in April-June climbed 53% to 22,000 units. The carmaker predicts demand for both models will top the 47,000 units it sold in the first half of 2017.
The increased quarterly loss reflects the cost of launching Tesla’s first moderately priced model, the $44,000 Model S. A $35,000 base-price version will go into production later this year.
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