Categories Consumer, Earnings

Earnings: Tesla reports net loss for Q1; revenues miss estimates

Tesla, Inc. (Nasdaq: TSLA) reported a wider-than-expected net loss for the first quarter of 2019 as the demand for electric vehicles continued to decline. Though revenues increased from last year, they fell short of expectations. Meanwhile, the company’s stock gained during Wednesday’s extended trading session. Tesla reports net loss for Q1

Total revenues rose 33% annually to $4.54 billion during the three-month period, helped mainly by a 37% rise in automotive sales. The top line, however, missed the market’s expectations by a wide margin.

After excluding special items, the electric car maker posted a net loss of $2.90 per share for the March quarter, which marked an improvement from the year-ago quarter when it registered a $3.35 per share loss. Analysts were looking for a narrower loss for the most recent quarter.

On an unadjusted basis, it was a net loss of $702.14 million or $4.10 per share, compared to a loss of $709.55 million or $4.19 per share in the first quarter of 2018. The bottom-line was negatively impacted by non-recurring items, including restructuring costs and the unfavorable pricing actions taken on Model S and Model X.

Total revenues increased 33% during the three-month period helped by higher automotive sales, especially the Model 3 sedan

Tesla ended the quarter with $2.2 billion of cash and cash equivalents, representing a decline from last year owing to the repayment of debt and an increase in the number of vehicles in transit to customers at the end of the quarter. The company’s cash position has deteriorated over the years, despite CEO Elon Musk’s assurances on improving liquidity.

Also see: Tesla, Inc. Q4 2018 Earnings Conference Call Transcript

During the first quarter, Tesla started production and deliveries of its flagship Model 3 vehicles for overseas markets. The management reaffirmed its guidance of 360,000-400,000 vehicle deliveries in 2019, which represents a 45%-65% increase from last year. For the second quarter, the current delivery target is 90,000-100,000 units. The company continues to forecast an adjusted gross margin of 25% on Model S, Model X and Model 3 for this year.

Earlier this month, the automaker reported a sequential decline in sales and production for the first quarter, in a sign that the challenging market conditions and operational headwinds are taking a toll on it. Revenues more than doubled to $7.2 billion in the fourth quarter of 2018 when the company reported earnings of $1.93 per share, compared to a loss in the year-ago period.

Tesla shares traded lower throughout Wednesday’s regular session but gained about 2% in the after-hours, following the earnings report. The stock has lost 17% so far this year and is currently trading at the lowest level in nearly two years.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

ISRG Earnings: Intuitive Surgical Q2 profit jumps on strong revenue growth

Medical device company Intuitive Surgical, Inc. (NASDAQ: ISRG) announced operating results for the second quarter of 2024, reporting higher revenues and adjusted profit. Second-quarter net profit, excluding one-off items, climbed

Infographic: Halliburton (HAL) reports strong earnings growth for Q2 2024

Energy giant Halliburton Company (NYSE: HAL) Friday announced financial results for the second quarter of 2024, reporting a double-digit increase in net profit. Second-quarter revenue edged up 1% annually to

AXP Earnings: Key quarterly highlights from American Express’ Q2 2024 financial results

American Express Company (NYSE: AXP) reported its second quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, were $16.3 billion, up 8% from a year ago, driven


  1. Pingback: Leandro Farland
  2. Pingback: Reba Fleurantin
  3. Pingback: Cory Chase
  4. Pingback: MILFCity
  5. Pingback: valentines gift
  6. Pingback: valentine pillow
  7. Pingback: stop crying
  8. Pingback: organic bee sting
  9. Pingback: valentine pillow
  10. Pingback: Click Here
  11. Pingback: Click Here
  12. Pingback: Click Here
  13. Pingback: Click Here
  14. Pingback: Click Here
  15. Pingback: Click Here
  16. Pingback: Click Here
  17. Pingback: Click Here
  18. Pingback: Click Here
  19. Pingback: Click Here
  20. Pingback: Click Here
  21. Pingback: Click Here
  22. Pingback: Click Here
  23. Pingback: Click Here
  24. Pingback: Click Here
  25. Pingback: Click Here
  26. Pingback: Click Here
  27. Pingback: Click Here
  28. Pingback: Click Here
  29. Pingback: Click Here
  30. Pingback: Click Here
  31. Pingback: spaceros
  32. Pingback: Space ROS
  33. Pingback: Click Here
  34. Pingback: Click Here
  35. Pingback: Click Here
  36. Pingback: Click Here
  37. Pingback: Click Here
  38. Pingback: Click Here
  39. Pingback: Click Here
  40. Pingback: Click Here
  41. Pingback: Click Here
  42. Pingback: Click Here
  43. Pingback: Click Here
  44. Pingback: Click Here
  45. Pingback: Click Here
  46. Pingback: Click Here
  47. Pingback: Click Here
  48. Pingback: Click Here
  49. Pingback: Click Here
  50. Pingback: Click Here
  51. Pingback: Click Here
  52. Pingback: Click Here
  53. Pingback: Click Here
  54. Pingback: Click Here
  55. Pingback: Click Here
  56. Pingback: Click Here
  57. Pingback: Click Here
  58. Pingback: Click Here
  59. Pingback: Click Here
  60. Pingback: Click Here
  61. Pingback: Click Here
  62. Pingback: Click Here
  63. Pingback: Click Here
  64. Pingback: Click Here
  65. Pingback: Click Here
  66. Pingback: Click Here
  67. Pingback: Click Here
  68. Pingback: earn karo
  69. Pingback: Click Here
  70. Pingback: Click Here
  71. Pingback: Click Here
  72. Pingback: Click Here
  73. Pingback: Click Here
  74. Pingback: Click Here
  75. Pingback: Click Here
  76. Pingback: Click Here
  77. Pingback: Click Here
  78. Pingback: Click Here
  79. Pingback: Click Here
  80. Pingback: Click Here
  81. Pingback: Click Here
  82. Pingback: Click Here
  83. Pingback: Click Here
  84. Pingback: domain-name
  85. Pingback: comic Leggings
  86. Pingback: Google reviews
  87. Pingback: Aussie porn
  88. Pingback: 2023 Books
  89. Pingback: dying
  90. Pingback: marriage records
  91. Pingback: IRA Empire
  92. Pingback: Chirurgie Tunisie
  93. Pingback: fue university
  94. Pingback: Campus facilities
  95. Pingback: Biochemistry
  96. Pingback: Vortex
  97. Pingback: Clinical dentistry
  98. Pingback: scientific visits
  99. Pingback: Pharmacy's PHD
  100. Pingback: MBA in FUE
  101. Pingback: Econometrics
  102. Pingback: Global Impact
  103. Pingback: fue contact
  104. Pingback: luci led camera
  105. Pingback: Fiverr Earn
  106. Pingback:
  107. Pingback: liv pure mediprime
  108. Pingback: Freight Broker
  109. Pingback:
  110. Pingback: clima para hoy
  111. Pingback: weather today
  112. Pingback:
  113. Pingback: blue frenchie
  114. Pingback: jute vs sisal rug
  115. Pingback: seo in Romania
  116. Pingback: Digital Marketing
  117. Pingback: Piano Removals
  118. Pingback: bitcoin
  119. Pingback: top Samsung phones
  120. Pingback: future university
  121. Pingback: future university
  122. Pingback: future university
  123. Pingback: posh leggings
  124. Pingback: seo
  125. Pingback: french bulldogs
  126. Pingback: fue
  127. Pingback: french bulldog
  128. Pingback: lean manufacturing
  129. Pingback: Warranty
  130. Pingback: FUE
  131. Pingback: Furniture handling
  132. Pingback: FiverrEarn
  133. Pingback: FiverrEarn
  134. Pingback: Media
  135. Pingback: FiverrEarn
  136. Pingback: FiverrEarn
  137. Pingback: FiverrEarn
  138. Pingback: partners
  139. Pingback: frenchie puppies
  140. Pingback: FiverrEarn
  141. Pingback: live sex cams
  142. Pingback: live sex cams
  143. Pingback: FiverrEarn
  144. Pingback: FiverrEarn
  145. Pingback: FiverrEarn
  146. Pingback: FiverrEarn
  147. Pingback: FiverrEarn
  148. Pingback: FiverrEarn
  149. Pingback: FiverrEarn
  150. Pingback: Natural Food
  151. Pingback: website builder
  152. Pingback: website builder
  153. Pingback: Slot Online
  154. Pingback: SRA Survivors
  155. Pingback: FiverrEarn
  156. Pingback: cheap sex cams
  157. Pingback:
  158. Pingback: live sex cams
  159. Pingback: frt trigger
  160. Pingback: abogado fiscalista
  161. Pingback: cannabis Ice Kream
  162. Pingback: 늑대닷컴
  163. Pingback: Slot online
  164. Pingback: nangs near me
  165. Pingback: superslot
  166. Pingback: allgame
  167. Pingback: 918kiss
  168. Pingback: หวย24
  169. Pingback: pg slot
  170. Pingback: cybersécurité
  171. Pingback: Raahe Guide
  172. Pingback: catskills hotel
  173. Pingback: megagame
  174. Pingback: 44-40 ammo
  175. Pingback: 3 408 cheytac
  176. Pingback: itsMasum.Com
  177. Pingback: itsMasum.Com
  178. Pingback: website
  179. Pingback: chatrandom
  180. Pingback: talkwithstrangers
  181. Pingback:
  182. Pingback: toronto jobs
  183. Pingback: montreal jobs
  184. Pingback: free sex shows
  185. Pingback: Kampus Ternama
  186. Pingback: 918kiss
Add Comment
Viewing Highlight