KCN: TSLA CROSSED INTO POSITIVE GROSS MARGIN TERRITORY

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KCN: TSLA CROSSED INTO POSITIVE GROSS MARGIN TERRITORY

Tesla crossed into positive gross margin territory for the Model 3 in Q2, and is forecasting levels around 15 percent in Q3 and 20 percent in Q4. Tesla is aiming to produce between 50,000 and 55,000 Model 3s in the third quarter. Tesla ended the quarter with a cash balance of $2.2 billion, about $500 million less than what it had on hand at the end of March. Going into Tesla earnings, shares were down 7.8 percent in the last year and 4.2 percent in 2018. Tesla Q2 revenue was $4 billion, up 43.5 percent year over year. Adjusted earnings per share came in at a loss of $3.06.

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