May 2, 2018

Tesla loss, revenue beats expectations

A Tesla Model 3 on display in China. Photo: VCG/VCG via Getty Images

Tesla's revenue was $3.4 billion in the first quarter of the year, better than analyst estimates, while its losses were less than expectations as the company said it made "significant progress" on ramping up production of the Model 3.

Why it matters: Tesla is under growing pressure to increase Model 3 production and stop hemorrhaging cash. The company said it made more than 2,000 Model 3s per week for 3 straight weeks during the quarter (below earlier estimates), but as it gets to 5,000 per week the company reiterated it will be profitable later this year.

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The coronavirus is Trump's slow-burn crisis

Photo: Money Sharma/AFP/Getty Images

At 6:30 p.m. from the White House press room, President Trump will publicly make himself the face of America's response to the coronavirus crisis.

Why it matters: This is exactly the situation where a president needs the credibility to truthfully explain a tough situation to the public.

Obama demands South Carolina stations stop airing misleading anti-Biden ad

Photo: Samir Hussein/Samir Hussein/WireImage

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Why it matters: It's a rare intervention by Obama, whose former vice president is facing a critical primary in South Carolina on Saturday. Obama has said he has no plans to endorse in the Democratic field.

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Illustration: Eniola Odetunde/Axios

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