Tesla earned and burned a record amount of cash in most recent quarter
Tesla started 2018 with a record quarter in a number of ways. The company generated $3.4 billion in revenue, which is more than ever before. Tesla also burned through more money than ever, turning that revenue figure into a nearly $785 million loss. It set a new company high for cars made in the first quarter of a year, too, including the critically important Model 3, which the company is making at a pace of about 2,200 per week — still below CEO Elon Musk’s most recent targets.
Musk and Tesla chief financial officer Deepak Ahuja claim in a quarterly letter to investors that was released today that the company will get back in the green in the second half of this year — and that it will do this without taking on additional investment….
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