Tesla: optimism after smaller losses drives shares.
(CercleFinance.com) - Tesla shares jumped after the electric carmaker reported a lower-than-expected quarterly loss on Wednesday.
Tesla, founded by "serial entrepreneur" Elon Musk, said the loss from operations reached 241 million dollars in Q2, compared to a loss of 257.5 million dollars in the first three months of the year.
Automotive sales almost doubled year-on-year, hitting the two billion dollar mark in the April to June quarter, from just one billion in the same period a year ago.
Analysts also point out that Tesla said it was very confident in reaching its 20,000 vehicle-per-week target by 2018, in addition to hitting a target margin of 25% for its Model 3.
In addition to the new Model 3, whose production is now being ramped up, the carmaker expects deliveries of Model S and Model X - its two existing models - to increase in H2 2017 relative to H1 2017.
Over the past quarter, the company delivered 22,026 Model S and Model X vehicles, up 53% versus the prior year, in a flat luxury vehicle market.
This optimism resulted in the Testa share rising 6% to 344 dollars on the Nasdaq on Thursday, almost one hour into trading.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Tesla, founded by "serial entrepreneur" Elon Musk, said the loss from operations reached 241 million dollars in Q2, compared to a loss of 257.5 million dollars in the first three months of the year.
Automotive sales almost doubled year-on-year, hitting the two billion dollar mark in the April to June quarter, from just one billion in the same period a year ago.
Analysts also point out that Tesla said it was very confident in reaching its 20,000 vehicle-per-week target by 2018, in addition to hitting a target margin of 25% for its Model 3.
In addition to the new Model 3, whose production is now being ramped up, the carmaker expects deliveries of Model S and Model X - its two existing models - to increase in H2 2017 relative to H1 2017.
Over the past quarter, the company delivered 22,026 Model S and Model X vehicles, up 53% versus the prior year, in a flat luxury vehicle market.
This optimism resulted in the Testa share rising 6% to 344 dollars on the Nasdaq on Thursday, almost one hour into trading.
Copyright (c) 2017 CercleFinance.com. All rights reserved.