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Posts Tagged ‘Tesla financials’

Tesla Takes a Tumble: Q3 Earnings Fall Well Below Expectations

Loss comes despite increased revenues.

by on Nov.01, 2017

Tesla's CEO Elon Musk had to deliver more bad news today: the company lost more money than expected last quarter.

Tesla delivered more bad news on Wednesday, shortly after the bell sounded to end the day’s trading on Wall Street, announcing it lost $2.92 a share for the quarter. That was well below the $2.45 a share deficit that a consensus of industry analysts had forecast, according to Thomson Reuters.

One reason for the weak numbers was the trouble Tesla has been having with the launch of its Model 3, the company’s first mainstream battery-electric vehicle. While final sales weren’t released, industry sources said the figure was expected to be in the “low three digit” range, meaning the much-anticipated model was vastly outsold by General Motors’ own affordable, long-range battery-electric vehicle, the Chevrolet Bolt hitting a record of 2,781 sales in October.

Industry News!

The news wasn’t entirely bad for Tesla, however, the carmaker reporting revenues for the third quarter of $2.98 billion, a record, and up from the consensus forecast of $2.95 billion. (more…)

Tesla Loses Money in Q1, Model X Coming in Q3

Founder Musk says maker will meet 55,000-unit production target.

by on May.07, 2015

Tesla founder Elon Musk has reason to smile: the Model X is expected to hit the road in the third quarter.

Tesla founder Elon Musk offered up only optimism even as the company reported an adjusted $45 million loss, or 36 cents a share, during the company’s first-quarter earnings call.

While the company lost money, it’s adjusted revenue came in at $1.1 billion, which is the first time the company topped that number in a quarter. Tesla’s results were better than expected by analysts, which had a consensus estimate of $1.05 billion in adjusted revenue and an adjusted loss of 49 cents per share. Additionally, Tesla delivered 10,040 cars during the period – also a first.

Power Up!

“I’m feeling pretty good about things,” Musk said during a conference call with analysts. The maker expects to produce more than 12,000 vehicles this quarter. (more…)