Topping Estimates, Tesla Narrows Quarterly Loss

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Topping Estimates, Tesla Narrows Quarterly Loss

Topping Estimates, Tesla Narrows Quarterly Loss
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Topping Estimates, Tesla Narrows Quarterly Loss

by Wochit 0:54 mins

The electric carmaker Tesla Motors reported a narrower net loss for the second quarter, but it surprised Wall Street with an unexpected operating profit. Tesla posted a surprise profit of 20 cents a share for the second quarter on $405 million in revenue sending shares higher in after-hours trading. Tesla Motors Inc. Chief Executive Elon Musk doesn't run his Silicon Valley electric car maker by traditional auto industry rules, and investors are so far rewarding him by putting a value on the company that defies easy comparisons. Tesla is scheduled to report second quarter results and most analysts are forecasting a 17-cent-a-share loss.

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