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Showing results for tags 'Second Quarter Results'.
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Tesla announced their second quarter results yesterday and the news wasn't great. The electric automaker posted a net loss of $293 million for the quarter. It also looks like Tesla might fall short of delivering 80,000 vehicles goal for this year. The quarter saw Tesla move 14,402 vehicles (9,764 Model S and 4,638 Model Xs). Add in the first quarter deliveries of 11,507 vehicles, and Tesla is very short of meeting this goal. "We are clearly disappointed with our delivery numbers," said Tesla CFO Jason Wheeler. It should be noted that 'almost half' of Q2's deliveries took place within the last four weeks of the quarter. "We were in production hell for the first six months of the year. Man, it was hell. And we managed to climb out of hell partway through June and now the production line is humming and our suppliers mostly have their $h! together," said Tesla CEO Elon Musk during a conference call with analysts. There was some good news for Tesla in the second quarter. The company posted $1.6 billion in revenue for the quarter. Source: Tesla, Reuters View full article
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Tesla announced their second quarter results yesterday and the news wasn't great. The electric automaker posted a net loss of $293 million for the quarter. It also looks like Tesla might fall short of delivering 80,000 vehicles goal for this year. The quarter saw Tesla move 14,402 vehicles (9,764 Model S and 4,638 Model Xs). Add in the first quarter deliveries of 11,507 vehicles, and Tesla is very short of meeting this goal. "We are clearly disappointed with our delivery numbers," said Tesla CFO Jason Wheeler. It should be noted that 'almost half' of Q2's deliveries took place within the last four weeks of the quarter. "We were in production hell for the first six months of the year. Man, it was hell. And we managed to climb out of hell partway through June and now the production line is humming and our suppliers mostly have their $h! together," said Tesla CEO Elon Musk during a conference call with analysts. There was some good news for Tesla in the second quarter. The company posted $1.6 billion in revenue for the quarter. Source: Tesla, Reuters
