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Tesla reported the largest quarterly loss in its history — $717.5 million — revealing that it burned through $430 million in cash over three months. But investors didn’t freak out — Wall Street was expecting worse, and Tesla stock was up more than 10 percent in after-hours trading. On the earnings call, CEO Elon Musk apologized to analysts for his recent erratic behavior and outbursts.
...........The electric car company said it lost more than $717.5 million in the second quarter. But it ended up with $2.2 billion in cash at the end of June. That meant Tesla burned through $430 million worth of its cash stockpile last quarter as it finally hit production targets for the Model 3 sedan, which is much less than many expected.
More at Tesla reported its biggest-ever loss, and Elon Musk apologized
...........The electric car company said it lost more than $717.5 million in the second quarter. But it ended up with $2.2 billion in cash at the end of June. That meant Tesla burned through $430 million worth of its cash stockpile last quarter as it finally hit production targets for the Model 3 sedan, which is much less than many expected.
More at Tesla reported its biggest-ever loss, and Elon Musk apologized
