KXIP vs KKR Live Score

Tesla burned through $739.5 million in cash last quarter as it geared up a factory to crank out more electric cars, leading to a $717.5 million net loss.

Tesla said production was rising and a goal of 6,000 cars per week by the end of August had been set. The announcement from the firm came a month after it finally managed to reach a 5,000 Model 3s per week target that it had struggled to meet.

"We like the more muted tone of the company's outlook, with the absence of unnecessary new stretch goals", said CFRA analyst Efraim Levy.

The outspoken Musk, who told analysts last quarter that he refused to answer their "boring" questions, apologized multiple times on Wednesday during a post-earnings call for his past behavior. Analysts have questioned whether the 5,000 rate would be sustainable.

With new heights in weekly production being targeted, Tesla expects to produce between 50,000 and 55,000 Model 3 vehicles in the third quarter.

Tesla is also adding a number of other fun features to its vehicles, including "party" and "camper" modes for its Model S, 3, and X vehicles.

Leonard passes physical with Raptors, report says
Green, meanwhile, played 70 games for the Spurs in 2017-18 after missing five games in December due to the groin injury. Leonard, who missed nearly all of last season with a quad injury, reportedly passed his physical, and is Toronto-bound.

The shares surged as much as 9.2 per cent as of 6:25 am NY time Thursday, before the start of regular trading.

Tesla spent millions as it reached a goal of producing 5000 Model 3 sedans per week by the end of June.

On the call, Musk also said he expects the company to avoid returning to the markets for capital and to be "essentially self-funding on a go-forward basis".

Tesla is continuing its elusive search for overall profitability, as it reported a loss of USD 743 million for the Q2 - marginally lower compared to losses of USD 770 million and USD 785 million in the previous two quarters.

"I was impressed with their negative free cash flow", said David Kudla, CEO of Mainstay Capital Management, which is betting against Tesla. Tesla projected total 2018 capital spending at just below $US2.5 billion.

During the second quarter, Tesla laid off 9 per cent of its workforce as it worked toward Mr Musk's promise of making money. Tesla's China investment would not start "in any significant way" until 2019, with much of the roughly $2 billion cost to be funded via local debt. Analysts polled by FactSet expected a $US2.88 loss per share.