Tesla Shares Surge on Narrower Than Expected Quarterly Loss
Tesla posted a narrower than expected quarterly loss.
Tesla (TSLA) - Get Report reported a net loss of $1.33 per share for the second quarter, while analysts were expecting a much deeper loss of $1.82.
Revenue of $2.79 billion topped forecasts of $2.5 billion and crushed the $1.3 billion in sales Tesla saw during the same quarter last year.
We know much money Tesla burns, but cash levels at the end of the second quarter topped $3 billion.
The company delivered just over 47,000 Model S and X units for the first half of 2017.
Tesla shares are up 3% in after hours trading.
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