Detroit Bureau on Twitter

Posts Tagged ‘tesla earns’

Tesla Delivers Stronger than Anticipated Earnings

Model X production to begin within a week.

by on Jul.31, 2014

Tesla aim to ramp up production of the Model X battery-SUV faster than with the original Model S.

Hours after confirming it had signed a formal agreement with Japanese electronics giant Panasonic to build its new, $5 billion “Gigafactory,” battery-electric automaker Tesla Motors revealed it earned a modest $16 million during the second quarter of the year, or 11 cents a share.

That figure was nonetheless well ahead of the Wall Street consensus which had anticipated earnings of just 4 cents a share. The start-up automaker also noted that it had boosted production for the April-june period to 8,763 of its Model S sedans, with sales reaching 7,759. That drove a 55% jump in revenues, to $858 million.

Plug In with a Free Subscription!

Tesla’s profit is a matter of perspective. It was in the black – but only by using non-traditional accounting methods. According to the generally accepted “GAAP” methods, however, the maker lost $62 million, or 50 cents a share.


Investors Plug Back in After Tesla Delivers Another Earnings Surprise

Battery-carmaker again in the black despite red-ink forecasts.

by on Aug.07, 2013

Tesla drives home another solid quarter.

Plucky plug-based automaker Tesla Motors delivered another surprise with its second-quarter earnings announcements as it eked out a modest profit rather than the loss analysts had been forecasting.

After a sharp sell-off during the day that saw Tesla shares plunge by 5.5% before the closing bell on Wall Street, investors rapidly reversed course, almost immediately sparking a 14% gain in after-hours trading. The strong numbers could leave egg on the face of skeptical analysts, some of whom had issued sharply negative reports following Tesla’s first-ever profit during the January to March quarter.

The Last Word!

For the second quarter, net income jumped 70%, on a non-GAAP basis, to $26 million, translating into a 20 cent-per-share number, excluding one-time charges. The consensus forecast had been for a 19 cents loss.