Tesla Takes Its Foot Off the Cash-Burn Pedal
(Bloomberg) -- Despite production headaches, Tesla Inc. burned through less cash than expected in the second quarter and stood firm with Chief Executive Officer Elon Musk's projection that profit is around the corner after years of losses. Free cash flow was negative $739 million for the three months ended in June, less than the $900.5 million average analyst estimate. The company had posted negative free cash flow of more than $1 billion in three of the previous four quarters.
To contact the reporter on this story: Sophie Caronello in Washington at scaronello@bloomberg.net
To contact the editors responsible for this story: Sophie Caronello at scaronello@bloomberg.net, Nancy Moran, Jamie Butters
©2018 Bloomberg L.P.
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