$401-mil­lion loss at Tesla

Los Angeles Times - - THE WEEK -

As Tesla be­gins ramp­ing up pro­duc­tion of its cru­cial Model 3 sedan, the com­pany re­ported a sec­ond-quar­ter net loss of $401 mil­lion. The loss, which comes to $2.04 a share, was bet­ter than an­a­lysts had ex­pected but still 37% higher than what the com­pany re­ported in the same quar­ter last year. Tesla recorded rev­enue of $2.79 bil­lion in the sec­ond quar­ter, up 34% from a year ear­lier.

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