Tesla reported a loss wider than anticipated for its second quarter.
The electric car maker reported adjusted loss of -$1.12 a share, compared to the - 40 cents loss expected by analysts polled by Refinitiv.
Revenue of $6.35 billion came in lower than analysts’ estimates of $6.41 billion. Sales were $4 billion during the same period last year.
Nevertheless, Tesla its reaffirmed full-year delivery guidance of 360,000 to 400,000 vehicles this year, mostly Model 3s. Earlier this month, the company announced its record high vehicle production and deliveries, selling 95,200 vehicles during the second quarter and producing 87,048 cars during that period.
According to the company, it has a weekly run-rate of 7,000 Model 3 vehicles, and hopes to be able to produce 10,000 Model 3s weekly by the end of 2019.