AP should not be expected to know the nuances of expectations, and doesn't.
That said the stock is off $11.97 in late after-hours trade, $258.16, after getting as low as $247.46.
From the Associated Press:
Tesla Motors' loss triples to $184 million in 2Q as it lowers delivery forecast
Tesla Motors' net loss nearly tripled to $184 million in the second quarter as it spent heavily to prepare for the launch of its new Model X SUV.
The Palo Alto, California-based electric car maker said Model X deliveries will start in the third quarter. Production will ramp up quickly in the fourth quarter.But Tesla said it's not totally confident that suppliers will be able to match its production demands, so it lowered expectations for its total annual sales this year. Tesla said it expects to sell between 50,000 and 55,000 Model S sedans and Model X SUVs this year, down from a previous target of 55,000.Tesla sold a record of 11,532 Model S electric cars in the second quarter. Revenue rose 24 percent to $954.9 million....MORE
And we'll have more tomorrow.
