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Tesla Burns Through $2 Billion In 2017

An anonymous reader quotes a report from The Verge: Tesla Reported record revenue for 2017, floated by customer deposits of the recently announced Semi truck and Roadster sports car. Despite its optimistic sales numbers, Model 3 production issues and cash flow problems haunt the company, but Tesla insists its on track to meet its production goals of 5,000 cars a week by mid-2018. Tesla reported $3.3 billion in revenue, which was expected, but also posted a $771 million quarterly loss -- its largest quarterly loss ever. The company reported a negative free cash flow of $276.7 million. And it reported a net loss of $2.24 billion in 2017, a significant increase over the $773 million net loss it reported in 2016.

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This post first appeared on Werbung Austria - Slashdot, please read the originial post: here

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Tesla Burns Through $2 Billion In 2017

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