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Chief Executive of SpaceX and Tesla Motors Elon Musk arrives at the 2014 Vanity Fair Oscars Party in West Hollywood, California March 2, 2014. REUTERS/Danny Moloshok Chief Executive of SpaceX and Tesla Motors Elon Musk arrives at the 2014 Vanity Fair Oscars Party in West Hollywood, California March 2, 2014. REUTERS/Danny Moloshok  

Tesla Announces Q2 Earnings, ‘Potential’ Site For Gigafactory

Tesla announced second-quarter earnings Thursday, reporting an 89 percent increase in revenue from Q2 2013 and also hinting that Reno, Nevada might be the site for the highly anticipated Gigafactory. (RELATED: Report: Tesla And Panasonic Team Up To Build Battery Gigafactory)

“In June, we broke ground just outside Reno, Nevada on a site that could potentially be the location for the Gigafactory,” Musk said in a press release. “Consistent with our strategy to identify and break ground on multiple sites, we continue to evaluate other locations in Arizona, California, New Mexico and Texas. The final site for the first Gigafactory will be determined in the next few months.”

Tesla reported $857.5 million in revenue, beating predictions by $44.5 million.

Tesla’s stock was down 2.46 percent at the market close, but rose during after-hours trading.

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