Thursday, 13 December, 2018

Tesla posts their biggest quarterly loss

Tesla posts their biggest quarterly loss Tesla posts their biggest quarterly loss
Nellie Chapman | 09 February, 2018, 07:32

The only problem is they're still in Germany. Then the electric auto maker revealed its worst quarterly loss.

Mr Musk, chief executive and co-founder of Tesla, said that net losses in the three months to...

First off, it's a bummer because that means that Tesla will not come close to reaching its promised $35,000 starting price for the Model 3 in the first full year of production. There are even clues that the company is carefully managing its US delivery total.

Musk said concrete or steel blocks would have been "extremely boring". George Galliers, an analyst at Evercore ISI, warned of "timing risk" around the reassembly process.

Tesla's non-GAAP loss per share widened significantly year over year to a loss of $0.69 in Q4.

There were plenty of positive signs in the earnings, too.

Model 3 had a negative gross margin last quarter due to production constraints. "Demonstration missions like this one typically carry steel or concrete blocks as mass simulators, but SpaceX decided it would be more worthwhile to launch something fun and without irreplaceable sentimental value: a red Roadster for the red planet".

"The business is complex, and there's nearly always something for bears to focus on".

Tesla's all-electric Model 3 was unveiled on March 31, 2016.

Musk tweeted late on Tuesday that the rocket carrying his Tesla exceeded its target and is now on its way to an asteroid belt between Mars and Jupiter.

Model 3. Image source: Tesla.

Electric auto maker Tesla has reported a record loss of $675.4 million - $4.01 per share - on a revenue of $3.29 billion in the fourth quarter of 2017.

"All the cash concerns will be alleviated once they get these cars on the road", said Tasha Keeney, an analyst at ARK Investment Management, which holds Tesla stock.

The fate of Starman and the Tesla is unclear.

In addition, Tesla is targeting to "at least triple" its energy storage products sales this year. Model X deliveries grew 28% year over year, according to the report.

For the full year of 2018, Tesla says it expects "hundreds of thousands" of people to switch to Tesla's electric vehicles as it ramps up Model 3 production.