Tesla Inc reported second-quarter revenue that missed analysts' estimates on Wednesday, sending its shares down nearly 8per cent in extended trading.
REUTERS: Tesla Inc on Wednesday missed financial targets in its second quarter despite record deliveries of its electric vehicles, adding that the carmaker will break even this quarter, rather than post a profit.
After initially promising Tesla would be profitable starting from the third quarter of 2018, the company warned in February it would not be profitable in the first quarter, due to a major drop in deliveries. It gave a similar warning for the second quarter in April, saying it expected to return to profitability in the third quarter.
Most recently, it eliminated the least expensive versions of its Model S sedan and Model X SUV, while cutting the starting price of its Model 3 to US$38,990.
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