Tesla Reports Record $717.5 Million Net Loss in Second Quarter
02 August, 2018, 16:32 | Author: Salvatore Jensen
Electric vehicle maker Tesla burned through $US739.5 million ($1 billion) in cash last quarter, paving the way to a company record $US717.5 million net loss as it cranked out more electric cars.
"Our goal is to be profitable and cashflow positive in every quarter going forward", Musk said in the earnings call, allowing that there may be some quarters in which the company pays back debt, which could interrupt that trend.
Tesla reported a loss of $3.06 a share, missing analyst forecasts for a loss of $2.88 a share, on sales of $4 billion, which was just ahead of predictions for $3.99 billion. Musk repeated his view that profitability is just around the corner, thanks to a ramp-up in production of Tesla'sModel 3 electric vehicle. In Q2, Tesla delivered a total of 40,768 cars, out of which the Model 3 accounted for 18,449 deliveries. The call triggered a stock sell-off and raised questions about Musk's behavior.
Beyond operating costs, Tesla has paired down an initial $3.4 billion capital expenditure estimate for the year to a slimmer $2.7 billion. At the time of writing, Tesla shares are up in after-hours trading after once again closing north of $300.
On Twitter, Elon Musk asked for developers to consider joining Tesla to make games optimized for its vehicles.
Tesla said demand for the Model 3 remained strong.
"We like the more muted tone of the company's outlook, with the absence of unnecessary new stretch goals", CFRA analyst Efraim Levy wrote in a note to clients. Analysts polled by Bloomberg expect the company to report an adjusted loss of $2.90 per share on revenues of $2.974 billion.
Last quarter, Musk mistreated two analysts by calling their queries about the company's cash needs and Model 3 orders "so dry" and "not cool". "There's obviously no excuse for bad manners, and I was kind of violating my own rule that regard", Musk told Sacconaghi. While Tesla hit the long-delayed target in June, the process put additional strain on the company, forcing it to spend millions to ramp up production.
The company said that it expects to grow at a rapid pace and expects to achieve sustained quarterly profits.
Tesla'swebsite describes upcoming features - including the ability for a vehicle to change lanes without driver input, move from one freeway to another, and exit a freeway near the driver's destination - that are not available in Autopilot's current iteration.
Tesla management has previously predicted that it would turn a profit sometime in the third quarter.
The suggestion in court Wednesday that prosecutors may not ask Gates to testify apparently surprised even Judge T.S. The prosecution said in court it is moving ahead of schedule and intends to rest its case sometime next week.
DPAA spokeswoman Kristen Duus told NPR's Ailsa Chang, "We find remains very frequently that don't always have ID tags with them". Byrd said there was also a lot of military hardware, such as helmets, canteens and boots, included in the shipment.
The Kentucky senator was one of the few Republicans considered possible swing votes on Kavanaugh's confirmation. He said he is also not anxious about a flurry of advertising pressuring him to confirm Kavanaugh.
Chen says she has already made one statement on the matter and she will "stand by that statement today, tomorrow, forever". When she rebuffed his advance and asked what he was doing, he replied, "Well, I was hitting on you".
As a result of his plea agreement, all charges in this case were dismissed and he will be testifying against Manafort. Ellis, has said that he doesn't think it will need to go longer than three weeks and would like it to wrap up in two.
Since then he has managed a total of 66 Bundesliga appearances, scoring 20 goals and has set up ten more for his team-mates. They have also signed Japan global striker Yoshinori Muto from Mainz, subject to a work permit .
Asonye said Manafort didn't just lie to the Internal Revenue Service. "He worked for me for a very short time". Asonye attempted to backtrack, telling Judge Ellis that the evidence presented will determine if Mr.
The electoral commission warned that final results of the presidential first round may not be known until Friday or even Saturday. The southern African country this week held its first elections since the downfall of longtime leader Robert Mugabe in 2017.
Twitter users wonder if Trump has ever purchased his own groceries after he makes a freaky claim at Florida rally. Bill Nelson in one of the most high-profile races of this midterm election and polls indicate a close contest.
CNN quoted sources as saying Mr Cohen lacks evidence such as an audio recording to corroborate his account. "Even more inconceivable that a lawyer would tape a client - totally unheard of & perhaps illegal ".
Mars closest to earth in 15 years today
The red planet will appear at its brightest since 2003, when Mars made its closest approach to Earth in nearly 60,000 years. We may colonize the Red Planet yet, but it's not going to be as easy as releasing the carbon dioxide trapped in the planet.
State AG Ferguson to file lawsuit over 3D-printed guns
Wilson posted the plans for his gun, called the Liberator, onto his website, where the plans were downloaded thousands of times. That same day Wilson and the Second Amendment Foundation filed a preemptive suit against New Jersey Attorney General Gurbir S.
It's Fortnite's 1st birthday, but you get the gifts!
With the arrival of the Fortnite birthday quest-line, completion of the quest will reward them the birthday brigade Ramirez hero. Players can unlock new items with limited-time birthday challenges, plus there are new mini games and a new-look Battle Bus.