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Started By
Message
Tesla posts massive 702 million dollar loss in first quarter
Posted on 4/24/19 at 5:51 pm
Posted on 4/24/19 at 5:51 pm
LINK
"Tesla's profit streak is over. Big time.
The electric car company said Wednesday that it lost $702 million last quarter.
Wall Street was already bracing for what one analyst called an "apocalyptic" results — but the results were still far worse than expected.
While the company has posted big losses of this size before, analysts surveyed by Refinitiv predicted that Tesla (TSLA) would be about $301 million in the red for the quarter. The actual number was more than double that amount.
Tesla stock dipped slightly after earnings were released, but later edged back to even.
CEO Elon Musk said during a conference call with investors that last quarter may have been rough, but Tesla has a rosy outlook. Demand for all three of Tesla's electric vehicle models is strong, he said.
"We also have a lot of markets [abroad] where we haven't yet tapped into demand, especially the Model 3," Musk said."
"Tesla's profit streak is over. Big time.
The electric car company said Wednesday that it lost $702 million last quarter.
Wall Street was already bracing for what one analyst called an "apocalyptic" results — but the results were still far worse than expected.
While the company has posted big losses of this size before, analysts surveyed by Refinitiv predicted that Tesla (TSLA) would be about $301 million in the red for the quarter. The actual number was more than double that amount.
Tesla stock dipped slightly after earnings were released, but later edged back to even.
CEO Elon Musk said during a conference call with investors that last quarter may have been rough, but Tesla has a rosy outlook. Demand for all three of Tesla's electric vehicle models is strong, he said.
"We also have a lot of markets [abroad] where we haven't yet tapped into demand, especially the Model 3," Musk said."
29
Posted on 4/24/19 at 5:53 pm to WoWyHi
God damn. I want to buy a used Model S but I just worry about replacement parts when the company goes belly up.
This post was edited on 4/24/19 at 5:54 pm
Posted on 4/24/19 at 5:54 pm to WoWyHi
But it’s the top selling sedan?
Musk pulled another one on the US taxpayer
Musk pulled another one on the US taxpayer
Posted on 4/24/19 at 5:54 pm to fightin tigers
Wait for it..........they are coming.
Posted on 4/24/19 at 5:54 pm to fightin tigers
That's really bad. I don't get how he just shrugs it off.
Posted on 4/24/19 at 5:54 pm to WoWyHi
He’ll be able to float the company with all the space money he’s about to get. Once they divert NASA’s space hardware budget to him he’ll gold plate those frickers.
Posted on 4/24/19 at 5:55 pm to WoWyHi
Posted on 4/24/19 at 5:56 pm to Gaston
We'll all be wearing gold plated diapers. Never question Bruce Dickinson.
Posted on 4/24/19 at 5:58 pm to Gaston
quote:
He’ll be able to float the company with all the space money he’s about to get. Once they divert NASA’s space hardware budget to him he’ll gold plate those frickers.
I think SpaceX/Tesla merger is coming now. He gets to take Tesla private to keep the bad press off his back.
Posted on 4/24/19 at 5:59 pm to Janky
quote:
Wait for it..........they are coming.
Bring em on! No one can sugar coat this. This is really bad.
Posted on 4/24/19 at 6:00 pm to fightin tigers
So Musk is the next Jim Bob Moffet? I bet he is proud.
Posted on 4/24/19 at 6:02 pm to WoWyHi
But he is coming out with a car with no steering wheel. Oh and did you hear? He is going to introduce his own insurance product. Because state insurance commissioners just let anyone offer insurance. Especially those with hardly any cash to provide as reserves.
Posted on 4/24/19 at 6:11 pm to WoWyHi
quote:
That's really bad. I don't get how he just shrugs it off.
Aliens don't value money like you or I do.
Posted on 4/24/19 at 6:11 pm to Janky
Building cars in a parking lot shows they still don't have a clue how to actually manufacture.
The plant in Fremont had a capacity of 400K+ when it was run by GM/Toyota. Tesla isn't anywhere near that.
Musk is a good salesman. Nothing more, Nothing less.
The plant in Fremont had a capacity of 400K+ when it was run by GM/Toyota. Tesla isn't anywhere near that.
Musk is a good salesman. Nothing more, Nothing less.
Posted on 4/24/19 at 6:17 pm to WoWyHi
quote:
We'll all be wearing gold plated diapers. Never question Bruce Dickinson.
the Iron Maiden singer?
Posted on 4/24/19 at 6:18 pm to WoWyHi
Posted on 4/24/19 at 6:19 pm to WoWyHi
They ever make a profit on an actual car yet?
Posted on 4/24/19 at 6:21 pm to WoWyHi
quote:
Wall Street was already bracing for what one analyst called an "apocalyptic" results — but the results were still far worse than expected.
While the company has posted big losses of this size before, analysts surveyed by Refinitiv predicted that Tesla (TSLA) would be about $301 million in the red for the quarter. The actual number was more than double that amount.
Tesla stock dipped slightly after earnings were released, but later edged back to even.
How many companies can lose twice what the analysts predicted and have no net negative impact on the stock price?
This post was edited on 4/24/19 at 6:23 pm
Posted on 4/24/19 at 6:24 pm to WoWyHi
Musk pole smokers actively downvoting, but not replying.
Hmm.
Hmm.
Posted on 4/24/19 at 6:25 pm to WoWyHi
Can anyone explain to me why so many people are so emotionally wrapped up with the success or failure of Tesla? I don’t get it.
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