If you’re a fan of electric cars, this news is good! Tesla just announced that it had recorded Q4 revenue of $2.3 billion and net income of $1.1 billion, which were significantly above analyst expectations. The company also said that it plans to begin production of the Cybertruck later this year – a huge step forward for the EV industry! Keep your eyes peeled because this might be the turning point for the automotive world!
Tesla reports Q4 revenue and profit beats.
Tesla has reported Q4 2017 revenue and profit beats, with CEO Elon Musk stating that the company will begin production of the Cybertruck later this year. Tesla also announced a new $35,000 Model 3 sedan, which is now available to order.
Q4 2017 Highlights: Tesla Reported Revenue Of $3.2 Billion And Profit Of $312 Million
Tesla’s Q4 2017 revenue was $3.2 billion, up from $2.7 billion in Q4 2016. The company’s profit was $312 million, compared to a loss of $675 million in Q4 2016. This resulted in Tesla’s first-ever quarterly profit and positive cash flow.
The key drivers of Tesla’s revenue and profit growth were strong sales of Model S and Model X vehicles and the introduction of the much-anticipated Model 3 sedan. Tesla reported that Model 3 deliveries totaled 5,000 units in just 24 hours after it began taking orders online on October 1 – a record for an electric vehicle startup.
CEO Elon Musk stated that the company plans to produce 500,000 Model 3 cars per month by March 2018 and 1 million cars per month by December 2018. He added that he expects Tesla to achieve profitability “within two years” despite intense competition from established automakers.
Says it will begin production of the Cybertruck later this year
Tesla Reports Q Revenue And Profit Beats; Says It’ll Begin Production Of The Cybertruck Later This Year
Tesla, Inc. (TSLA) reported financial results for its third quarter ended September 30, 2018. Highlights include:
Revenue was $2.43 billion, up 33% from $1.92 billion in the same quarter last year
Net income was $890 million, or $3.87 per share, up from $662 million, or $2.48 per share, in the same quarter last year
Full-year 2018 revenue is now estimated at $11.98 billion vs. the prior estimate of $11.81 billion
Gross margin was 37% of revenue versus 31% in 2017 and 32% in 2016
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Capital expenditures were $889 million in 2018 compared to $766 million in 2017 and$1.06 billion in 2016
“We’re making great progress on our vision of transporting people and goods with zero emissions,” said CEO Elon Musk during the company’s fourth-quarter earnings call. “We’ll be starting production of the Tesla Cybertruck later this year.”
“The Tesla Model 3 continues to be one of the most successful automotive products ever,” said JB Straubel, the company’s chief technology officer, during the fourth-quarter earnings call. “In Q4, we delivered 26,000 Model 3s and added almost 15,000 new customers.”
Highlights include increased production of the Model 3
Tesla Reports Q Revenue And Profit Beats; Says It’ll Begin Production Of The Cybertruck Later This Year
Tesla’s Q3 2018 earnings report was released earlier this week, and it was good news. Tesla reported revenue of $11.1 billion and profit of $2.9 billion, both up significantly from the previous quarter. CEO Elon Musk also announced that production of the Model 3 sedan will start later this year after stating that it would not begin until 2019. Overall, these announcements provide some much-needed optimism for Tesla’s future as it faces several headwinds.
Tesla’s Model 3 is the company’s most important vehicle, and it has struggled to mass-produce it profitably. The Model 3 has been plagued by production delays, but Tesla has finally resolved some of these issues and is now on track to begin production later this year. To support this increased output, Tesla also announced that it would be raising its capital expenditures by $2 billion in 2019.
In addition to the Model 3, Tesla also reported strong performance in its other businesses. Tesla’s Autopilot subsidiary generated $1.8 billion in revenue, up 34% from the previous quarter. Tesla’s solar business also continued to grow, with revenue increasing 52% from the previous quarter. Overall, these announcements provide some much-needed optimism for Tesla’s future as it faces several headwinds.
Plans to increase capital spending
Tesla reported Q1 2018 revenue and profit beats; it says it’ll begin production of the Cybertruck later this year. The company also said it’s on track to achieve its 2018 guidance. Tesla’s capital expenditures are expected to be around $7 billion this year, up from the original $6 billion target. This includes investments in Model 3, Gigafactory 2, and other projects.
The company reaffirmed its full-year guidance of producing ~500k cars and achieving a non-GAAP profit margin of ~25%. CEO Elon Musk said that increased capital spending is necessary for Tesla to achieve its production goals for the Model 3 and Gigafactory 2. He added, “We’re going to need more than just money: We need insane talent and laser focus.”
Shares surge in after-hours trading
Tesla Reports Q Revenue And Profit Beats; Says It’ll Begin Production Of The Cybertruck Later This Year
After Tesla’s impressive earnings report, shares surged in after-hours trading. The electric car manufacturer posted quarterly revenue of $2.4 billion and a net income of $1.8 billion, beating analysts’ expectations by a wide margin. As a result, Tesla announced that it would begin production of the Cybertruck later this year.
The Cybertruck is Tesla’s big bet on the future of transportation. It’s a heavy-duty all-electric truck that is designed to haul large loads over long distances. It could help Tesla wrest market share away from traditional automakers.
So far, investors are believers. Tesla’s stock price has surged more than 10% since the earnings report was released, indicating plenty of demand for the company’s products.
If Tesla can keep hitting the bullseye with its earnings reports, it could become a significant player in the automotive market.
