CEO Musk is under particular scrutiny after his comments during a May earnings call in which he rebuked analysts for asking "boring, bonehead" questions.
On Wednesday's call, Musk apologized to analysts.
The analysts reciprocated their acceptance of his apology at certain points. We're speaking of Pole Position, and if Musk gets his way you'll be able to play the game using the Tesla's own steering wheel. Clearly, Tesla is generating more revenue than ever before but still can't quite seem to turn a profit.
That loss is close to double the $336.4 million ($454.4 million) it lost during the first quarter of 2018, although total revenue rose from US$2.79 to US$4.0 billion. But analysts suggest that Tesla might run out of cash if it doesn't do a bigger capital raise. To achieve 55,000 deliveries in the second quarter would require an average of more than 4,200 units per week.
The company's net loss more than doubled from the same quarter a year ago, and was slightly more than the loss in the first quarter of 2018. We assume that would hold true for all games, because we're fairly certain the motoring public isn't ready for an autonomous auto that lets drivers have a go at Pac-Man while rolling down the highway at speed. During the third quarter, the company is gunning for 50,000 Model 3s.
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The company's cash reserves have dropped to $2.2 billion, down from $3.3 billion at the end of previous year.
Automotive gross margin increased to 20.6% GAAP up from 19.7% in the previous quarter which means Tesla makes more money from every vehicle it sells than it did before.
Investors have been eager to see Tesla's latest financial results, with the automaker under growing pressure to meet production and profitability targets.
Longer-range, Musk is counting on Tesla Gigafactories in Europe and China to boost profits.
The new features, designed for people who take weekend camping trips with their pure-electric vehicles, allows the battery pack to keep powering the car's air-conditioning or heating, selected interior lights, sound system and power outlets for 48 hours or more.
Tesla is scheduled to report its second quarter earnings on Wednesday after the closing bell.