Tesla promises return to profit in third-quarter after large loss, may raise more capital

Shares of Tesla were about flat after the results, which came more than an hour after they were expected and after a sales contraction in the quarter raised investor concerns. The company, which many analysts predict will need to raise funds for its expansion, said it ended its first quarter with $2.2 billion in cash after paying off a $920 million convertible bond obligation in March. "There is some merit to raising capital," said Chief Executive Elon Musk on a call discussing the results.

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