Tesla, which manufactures electric vehicles, announced a loss of $ 709.6 million in the first quarter of 2018. This is Tesla’s biggest quarterly loss for the entire life of the company, reports Reuters. A year earlier, the quarterly loss of Tesla was $ 330.3 million.
Compared to the fourth quarter of 2017, Tesla’s revenue grew by 1%. The first quarter of 2018, notes Bloomberg , the manufacturer of electric vehicles began with 3.96 billion dollars in accounts, and finished with 3.22 billion dollars.
Despite record quarterly losses, Tesla expects to show profits in the third quarter of 2018, provided that it will be able to reach a performance of 5000 electric vehicles Model 3 per week.
Tesla founder Elon Musk, during a conference call with investors, refused to answer questions about the company’s capitalization and plans for supplying Model 3, calling them “stupid”, “boring” and “not cool”.
After the publication of the accounts and the responses to the questions of investors, Tesla shares lost about 4.5% on evening exchange trades.