Tesla: ‘We expect to produce 50,000 to 55,000 Model 3 vehicles in Q3’

tesla we expect to produce to model vehicles in q
Tesla: 'We expect to produce 50,000 to 55,000 Model 3 vehicles in Q3'

Tesla rises 1.3% after reporting mixed quarterly results

Shares of Tesla Inc. rose 1.3% late Wednesday after the Silicon Valley car maker reported mixed results in the second quarter, posting a wider-than-expected adjusted loss but slightly beating revenue forecasts. Tesla said it lost $718 million, or $4.22, in the quarter, compared with $336 million, or $2.04 a share, in the year-ago period. Adjusted for one-time items, Tesla lost $520 million, or $3.06 a share, compared with $220 million, or $1.33 a share, a year ago. Revenue rose to $4 billion from $2.77 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of $2.88 a share on sales of $3.99 billion. Tesla said it aims to produce 6,000 Model 3 sedans a week by late August, and also kept intact its target of delivering 100,000 Model S and Model X vehicles this year. Shares ended the regular trading day up 0.9%.

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