• News
  • Finance

Tesla's shares jump after-hours with "overwhelming" Model 3 response

Tesla's shares jump after-hours with

The stock was up nearly 8 percent in after-hours trading, after the company delivered better than expected second-quarter earnings.

The company's net loss attributable to shareholders widened to $US336.4 million in the second quarter ended June 30, from $US293.2 million a year earlier.

Tesla Inc reported on Wednesday that its net loss widened in the second quarter as the electric auto maker opened new stores and prepared for the bumpy launch of its new lower-cost Model 3 sedan. He added that the number of orders has decreased from 518,000 to 455,000 approximately.

Yeah, the new Model 3 is good. "That's the one part of the financials that are a little bit troubling".

All-electric vehicle manufacturer and renewable energy company Tesla has more than doubled its quarterly revenue compared past year.

Tesla Inc. burned through less cash than analysts expected before bringing out its most affordable model yet, as costly investments strain the balance sheet of the electric-car company led by Elon Musk. That may not be enough for many customers, especially those who prefer a auto with a longer range.




Deliveries of the Model 3 will begin in autumn.

The deposits that customers made last summer do not specify which version they prefer, which could force Tesla to produce more of the 310-mile range version than the lower cost versions. Surprisingly, the Model 3 actually did go into production without a major delay.

"As Tesla's Model 3 ramp proceeds, we continue to have more questions than answers about the company and the vagueness of details coupled with lack of disclosure from management about true capital needs and expense levels need to obtain their ultimate vision", Osborne continued.

Tesla CEO Elon Musk said Wednesday the company may push back its big demonstration of its self-driving tech.

"We are not at this point considering an equity raise, we are thinking about debt", Musk said on the company's second-quarter earnings call. However, Tesla Motors reported in its second quarterly update of 2017 today that its Model S and Model X, er, models have also seen an uptick in orders. This is key to the company's short-term customer relations and long-term survival, as the Model 3 is now amassing some 1,800 reservations per day. Also, the first editions of the Model 3 will be more expensive than the sedan's $35,000 starting price.

Leave Your Comment

Leave Your Comment


Latest News

  • Over 20 Killed In Mosque Attack In Afghanistan

    Shiite Muslims have remained a constant target of militant attacks across various parts of the country over the past few months. A security source, who declined to be named, said IS could prove to be more risky than the Taliban in Afghanistan .
    How Analysts Rated Countrywide PLC (LON:CWD) Last Week?

    How Analysts Rated Countrywide PLC (LON:CWD) Last Week?

    Meag Munich Ergo Kapitalanlagegesellschaft Mbh holds 1.37% of its portfolio in HP Inc for 1.26 million shares. Out of 7 Wall Street analysts rating United Tech, 2 give it "Buy", 0 "Sell" rating, while 5 recommend "Hold".

    Trump may support Russian Federation sanctions legislation

    He said Brussels must be ready to act swiftly in case the United States takes measures ignoring the European Union's concerns. President Donald Trump's ability to lift any sanctions against Russian Federation .
  • Jailed Paralympian Oscar Pistorius in hospital 'suffering from chest pains'

    Jailed Paralympian Oscar Pistorius in hospital 'suffering from chest pains'

    Past year he received treatments after he sustained cuts to his wrists, which he said were the result of a fall in his cell. Pistorius faces having his sentence increased to 15 years if prosecutors are successful.
    Seahawks sign safety Kam Chancellor to 3-year extension

    Seahawks sign safety Kam Chancellor to 3-year extension

    However long my body holds up - however long Lord allows me to. "They gave me the first opportunity, the only opportunity". He said he wants to end his career with the Seahawks , the team that drafted him in the fifth round of the 2010 draft.

    Jovetic stars before Kondogbia's weird own goal

    Batshuayi thought he had levelled in the closing minutes - only for his goal to be chalked off for a questionable offside flag. Chelsea boss Antonio Conte was sympathetic: "It can happen, can happen - this is football".
  • 19 in coaches preseason poll

    19 in coaches preseason poll

    The last preseason No. 1 in the coaches poll to win the national championship was USC in 2004. USC's only Pac-12 South foe to make the preseason ranking was Utah at No. 25.
    'Dukes of Hazzard' actor arrested in Waltham

    'Dukes of Hazzard' actor arrested in Waltham

    Wopat has worked steadily on stage and screen since the " Dukes of Hazzard ", including a role in the A&E drama "Longmire". He told police that he buys cocaine "in large quantities and uses it over time", the court documents said.
    Lawsuit alleges White House link in Seth Rich conspiracy

    Lawsuit alleges White House link in Seth Rich conspiracy

    The lawsuit claims Butowsky is a Fox News contributor, opponent of Hillary Clinton, and friend to Sean Spider and Steve Bannon. A new suit is alleging that Fox News is fake news - and that the President signed off on a story with false quotes.
  • China leases Sri Lanka port for nearly  100 years

    China leases Sri Lanka port for nearly 100 years

    China's influence in Sri Lanka makes neighboring India anxious because it considers the Indian Ocean region to be its strategic backyard.
    Shocking!Beyonce, Jay Z employs 8 nannies for twins

    Shocking!Beyonce, Jay Z employs 8 nannies for twins

    The couple both know that "their marriage has suffered" because of all the focus they put towards their individual careers. Entertainment's power couple, Beyoncé and Jay-Z have hired six nannies to care for their twins, Rumi and Sir Carter.
    Firefighters rescue Ohio woman entangled by boa constrictor

    Firefighters rescue Ohio woman entangled by boa constrictor

    Card said the snake , which the woman said was around five feet in length, was biting the woman's nose and just wouldn't let go. Usually when a 911 dispatcher gets a call, it's about a fall, abdominal pain, or an acute medical problem like a seizure.
  • Jurgen Klopp Issues Hilarious Response When Questioned About Ongoing Naby Keita Pursuit

    Jurgen Klopp Issues Hilarious Response When Questioned About Ongoing Naby Keita Pursuit

    RB Leipzig head coach Ralph Hasenhuttl has insisted that Naby Keita will "100%" be at the club next season following numerous attempts from Liverpool to sign him.
    Free lipstick giveaway for National Lipstick Day

    Free lipstick giveaway for National Lipstick Day

    The giveaway will take place July 29th at MAC storefronts nationwide along with other retailers that carry MAC products. There are still plenty of ways to celebrate National Lipstick Day, even if that means not getting a free lip color.
    India off to steady start in first Test

    India off to steady start in first Test

    Kohli has matured into an astute captain, Sri Lanka on the other hand, have slipped drastically in the Test arena. They will back themselves in subcontinental conditions that suit their style of play.
  • Deadly shootout at Moscow court leaves three dead

    Deadly shootout at Moscow court leaves three dead

    Three defendants have been shot dead after reportedly trying to grab guns from guards during a trial at Moscow Regional Court . The nine accused men, who are all from Central Asia, were charged with 17 murders and 2 attempted murders.
    Smooth getaway: 12 escaped inmates fool prison guard with peanut butter

    Smooth getaway: 12 escaped inmates fool prison guard with peanut butter

    While most of the inmates were captured in Jasper, some made it to Townley where they apparently stole a truck. CNN reports police have offered a $500 reward for information leading to the arrest of the remaining escapee.
    Iran Launched Rocket Carrying Satellite, Official Says

    Iran Launched Rocket Carrying Satellite, Official Says

    Simorgh is larger than an earlier model known as Safir (ambassador) that Iran has used to launch satellites . Iranian news outlets reported about the successful launch of a satellite-carrying rocket into space.

Breaking News



Recommended

Ohio's tax-free weekend: What you need to know

They will probably be overwhelmingly busy all weekend and will appreciate it if you provide a dose of compassion and patience. Southern Park Mall in Boardman will have a back-to-school arts, craft and home-based business show through Sunday.

Daily Telegraph accidentally publishes story saying Prince Philip is dead

Wednesday's parade in Buckingham Palace's forecourt was Prince Philip's 22,219th solo engagement since 1953. It is expected Prince Harry will take over as Captain General follow his grandfather's retirement.

Weekend Sunshine then a few storms

By midweek the temperatures and humidity will be up, this will increase the chance for isolated pop up showers or t-storms. A couple more warm and comfortable days arrive on Tuesday and Wednesday with a touch more cloud cover, though no rain.

U.S. says cuts to staff in Russian Federation 'uncalled for'

The law will be sent for signature to the President of the United States Donald Trump , who has the right to veto it. If Trump were to veto the bill, the House vote is well above the two-thirds margin needed for an override.

Mike Moustakas' 30th homer leads Royals past the Red Sox 4-2

With just a few days for the MLB Trade Deadline , the Boston Red Sox remain somewhat active in their efforts to pull off a trade. As has been the case for much of July, the Sox struggled with runners in scoring position, finishing the night 1-for-6.

Galle Test: Ashwin, Jadeja spin India to 304-run win over Lanka

They could not last the day, though, as Kohli's bowling unit all contributed to a massive win for the world's top Test team. His family will have to wait for some more time as Dhawan with a career-best 190 took charge of his sinking Test ship.

Broncos Shane Ray to miss 6-8 weeks with torn wrist ligament

If Ray is out the full eight weeks, he would not be able to play until September 24 when Denver plays the Buffalo Bills. The team announced the signing of linebacker Danny Mason , and subsequent release of tight end Henry Krieger-Coble.

FDA announces plan to cut nicotine in cigarettes

Food and Drug Administration chief Scott Gottlieb on Friday directed the agency's staff to develop new regulations on nicotine. The FDA gained oversight of tobacco products in 2009 through the Family Smoking Prevention and Tobacco Control Act .

Lebanese PM Saad Hariri and Donald Trump Discuss ISIS, Syrian Refugees

Saad Hariri is prime minister of Lebanon. "I believe that maybe the United States also could help in solving this issue in the Gulf".

Police drop charges against WR Lucky Whitehead

If there was a contest for weirdest offseason, Lucky Whitehead is winning it and second place is not even in his rearview mirror. Last week, a bunch of soundcloud rappers stole his dog and held it for ransom until he paid up.