Tesla reports a wider loss than expected, says Model 3 production remains on track (TSLA)
Tesla on Wednesday reported a wider-than-expected loss for the first quarter and said its highly anticipated Model 3 remains on track for initial production in July.
The electric-car maker said it lost $1.33 per share, wider than the loss of 82 cents that analysts had forecast. Revenue more than doubled and beat expectations, at $2.7 billion ($2.61 billion forecast.)
Analysts were focused on updates on production of the Model 3, Tesla's mass-market vehicle priced at $35
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