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Tesla posted revenue of $3.28 billion with a loss of $675 million for its fourth quarter 2017 earnings report, in line with analyst estimates. The company also burned cash at a slower rate, $276.8 million versus a record $1.42 billion in the third quarter.
On a conference call, CEO Elon Musk outlined the company’s “phenomenal” accomplishments in 2017, including:
– Delivery of the Model 3
– Installation of the world’s largest battery in Australia
– Debut of the Tesla Semi
– Debut of the second-generation Tesla Roadster
– Record deliveries of Model S and Model X
Delivery of 100,000 total units of the Model S and Model X are expected in 2018, though the company cited production constraints with the 18650 batteries. However, the battery business outlook is strong with a goal to triple sales for Tesla Energy products.
The full Q4 2017 letter can be found here.