Tesla posts $717m loss yet beats revenue predictions

Tesla plans to profitably build up to 55,000 Model S cars in third quarter

The stock climbed about 4 percent in after-hours trading.

Of course, Tesla still has plenty of people rooting for its downfall, and the company has had no shortage of drama. "We expect to generate positive cash including operating cash flows and capital expenditures", Tesla said in a statement. That was worse than Wall Street estimates of a $2.88 loss per share.

The latest report is somewhat more optimistic on that front, showing a significant bounce in revenues from Model 3 production, up from $3.4 billion in the first quarter to just over $4 billion in the last quarter.

But on Wednesday, Musk apologised to both and said he was exhausted from working more than 110 hours per week last quarter. That put it on track to retake the title of most valuable USA automaker from General Motors Co (GM.N). That leaves the company with $2.2 billion cash compared with $3.3 billion at the end of 2017.

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Other analysts said the sanctions on Turkish government officials would likely harden Turkey's position on other key issues. The US has maintained that there is no credible evidence to support the charges brought against Brunson.

Stuart Bowers, Tesla's vice president of engineering, said the update would allow Tesla vehicles to "automatically attempt to change lanes" and suggested it could help drivers transition to and from highways.

Tesla stock climbed as much as 5.7 per cent to US$317.95 as of 5 p.m.in NY.

Tesla Inc. (TSLA.O) burned through less cash than analysts' expected last quarter and stood firm with Chief Executive Officer Elon Musk's projection that profit is around the corner after years of losses. "It's good to be looking at the other end of this nightmare production ramp". Musk repeated his view that profitability is just around the corner, thanks to a ramp-up in production of Tesla's Model 3 electric vehicle. Tesla now says that it expects to produce 10,000 Model 3's per week by "sometime next year".

For nearly a year, Tesla followers fixated on the company's target to make 5,000 Model 3s in a week.

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"At 7,000 cars a week, we believe we can be sustainably profitable", he said.

Musk himself has garnered headlines in recent months for all the wrong reasons, including after calling a hero of the Thai cave rescue a "pedo". In addition to all these issues, the company is finally facing competition from the auto industry.

Elon Musk - Tesla's chief executive with a noted disdain for short sellers- tweeted in response to the letter that he will "send Einhorn a box of short shorts to comfort him through this hard time".

Tesla also said it was working on a new version of its Autopilot semi-autonomous software that would have greater safety features.

Zimbabwe: Expect Results From 3.pm - ZEC
MDC supporters took to the streets on Wednesday to protest against the outcome of the elections. "They are stealing our election". Opinion polling ahead of Monday's election had Chamisa neck and neck with President Emmerson Mnangagwa of Zanu PF.

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