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Tesla posts narrower loss, sales beat; shares up 0.3%

Tesla Inc. TSLA, +zero.41% stocks rose zero.3% past due Wednesday after the Silicon Valley automotive maker reported a narrower-than-expected adjusted first-quarter loss and quarterly gross sales that beat expectancies. Tesla said it lost $709.6 million within the quarter, or $4.19 a percentage, in comparison with a lack of $330.3 million, or $2.04 a percentage, within the year-ago length. Adjusted for one-time items, the corporate lost $3.35 a percentage, in comparison with $1.33 a percentage a yr ago. Sales rose to $3.41 billion, in comparison with $2.70 billion a yr ago. Analysts polled through FactSet had expected an adjusted lack of $3.54 a percentage on gross sales of $3.28 billion for the quarter. Tesla said it expects a GAAP profit and positive cash waft within the 3rd and fourth quarters of 2018. It also diminished its capital expenditures projections for the yr, to $3 billion from $3.4 billion.

Read the full story: Tesla beats profits expectancies, cuts expenses and guarantees earnings