The electric vehicle maker reported second-quarter earnings after the close, and beat revenue estimates for the quarter, although it also posted a wider loss than expected. Tesla reported an earnings per share loss of $3.06 vs. a loss of $2.88 expected, and revenues of $4 billion versus $3.92 billion expected.
Significantly, Tesla finished the second quarter with $2.2 billion in cash, more than expected, and noted that it expects to get to a pace of 6,000 Model 3s produced per week by late August. Shares were up about 2% following the report's release, but gains increased significantly to more than 10% as Musk and other Tesla execs gave details about the company's spending and other progress in response to questions from analysts.
TheStreet's tech columnist, Eric Jhonsa, and its automotive writer, Bret Kenwell, are analyzing Tesla's earnings report and conference call with analysts. Please share your questions in the window at the top of the blog.