Tesla pops after topping Wall Street estimates (TSLA)

pulse

August 3, 2017 2:06 PM

Tesla's stock price is rising after tons after the company released its second-quarter earnings report.

Tesla factory in Fremont, California

Shares of Tesla are up 6.60% in premarket trading on Thursday, after the company released its second-quarter earnings.

The electric car maker reported a loss of $1.33 per share, less than the loss of $1.88 that Wall Street was anticipating. It brought in revenue of $2.79 billion, better than the $2.51 billion expected.

There was lots of other news out of the earnings call. Here's everything you need to know...

burned $1.2 billion worth of cash last quarter
will be built on the same platform as the company's Model X
completed the first solar roof installations on employee's homes
Musk said it might have to be delayed

The earnings report came just days after the company revealed its newest vehicle, the Model 3. The company has been seeing tons of new orders for the vehicle, averaging about 1,800 per day since the launch. Production on the car is slow, though. Customers who order their vehicles today will probably not see their vehicles delivered until late 2018.

Shares of Tesla are up 61.45% this year, including Thursday's premarket bump.

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