Tesla Motors releases 2nd Quarter Earnings Report
Tesla Motors released their quarterly results for Q2 2010 which showed some promising news. Highlights include:
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- Revenue increased 36% from $20.8 million (Q1) to $28.4 million.
- Gross margin increased from 19% (Q1) to 22%
- Net loss increased from $29.5 million (Q1) to $38.5 million.
- A $42 million purchase agreement for an automotive facility in California.
- A $50 million investment from Toyota.
- Initial public offering (IPO) which raised approximately $184 million.