=Tesla (TSLA) reported earnings on Wed 2 Aug 2017 (a/h)

Tesla (TSLA) reported second-quarter earnings after the market close that beat the consensus estimate on revenue and earnings.

The electric-car maker reported revenue $2.79 billion, beating the consensus estimate of $2.51 billion. It reported an adjusted loss of $1.33, beating the consensus estimate of a $1.82 loss.

Tesla stock was up 3%, near $336 during after-hours trading in the stock market today. The stock is up 53% this year.

Tesla is "confident" it can produce just over 1,500 vehicles in the third quarter and achieve a run rate of 5,000 vehicles per week by the end of 2017. It continues to plan on increasing Model 3 production to 10,000 vehicles per week at some point in 2018. Tesla also said it expects Model S and Model X deliveries to increase in the second half of this year, vs. the first half.

"While delivering the first Model 3 cars was a major company milestone, we are now focused on the critical steps to ramp Model 3 production," Tesla said in the earnings announcement. "We remain confident in our plans and look forward to the upcoming unveiling of the next exciting addition to our portfolio of electric vehicles – Semi Truck."

On Friday, Tesla handed over the first 30 production Model 3 sedans to customers at its Fremont, Calif., factory, as it begins to significantly ramp production. The Model 3 is Tesla's first car for the mass market, with a price tag starting at $35,000, moving beyond its niche as a provider of luxury vehicles that typically sell for more than $100,000. At the high end, the Model 3 goes for $59,000.

Tesla expects Model 3 production of 100 in August, 1,500 in September and 20,000 in December, not including the Model S and X production.

Tesla said it is averaging about 1,800 Model 3 orders per day since its handover event on Friday. Deliveries to non-employees will begin in the fourth quarter, the company said.

Tesla earlier this week said reservations for the Model 3 have grown to more than 500,000, up from the 373,000 that Tesla previously reported the spring of 2016.