Tesla posts loss, Model 3 faces hiccups

Elon Musk Tesla announcement

Elon Musk Tesla announcement

He also said he would prefer Tesla to be private but "that ship has sailed".

Tesla waited more than an hour after markets closed on the east coast to report disappointing earnings, markedly later than past reports that have previously occurred within the first half hour of the market close.

"Tesla is a far more efficiently operating company than it was a year ago".

Tesla reported net loss attributable to common shareholders of $702.1 million, or $4.10 per share, in the first quarter ended March 31, compared with a loss of $709.6 million, or $4.19 per share, a year earlier.

Musk said that global deliveries were "the most hard logistics problem" he had ever seen.

John Kasich makes wild claim about President Trump after Mueller report
Representative Jerry Nadler, chairman of the Judiciary Committee, equivocated when asked on NBC about impeachment. Republicans have stood by Trump and an impeachment effort was unlikely to succeed in the Republican-led Senate.

"This was the most hard logistics problem I have ever seen, and I have seen some tough ones", Tesla CEO Elon Musk said on an analyst call. Model 3 production rose 545 percent on a year-over-year basis. Tesla announced cuts to about 7 percent of its workforce in January, and Musk is mired in an ongoing legal battle with the Securities and Exchange Commission over his tweets.

Closely following Monday's Autonomy push, Tesla is revealing the health of the company Wednesday with the Q1 earnings report conference call. Deliveries were off by almost a third and the company largely attributed that to a combined dilemma of front-loading Model 3 deliveries in Q4 2018 to take advantage of a USA tax credit, while European deliveries were hamstrung by various issues. Eventually Tesla plans to relieve that delivery pipeline with a new factory in China, but for now it is limited to its sole Fremont, Calif., production plant. "Deliveries of Model S and Model X declined to 12,100 vehicles in Q1 compared to our two- year run rate of roughly 25,000 units per quarter".

While Tesla said not to take the delivery figures as an indicator of its overall demand, the company warned that the delivery issues would affect its financial picture.

The company, which many analysts predict will need to raise funds for its expansion, said it ended its first quarter with $2.2 billion in cash after paying off a $920 million convertible bond obligation in March.

Recommended News

  • Woman wakes up from coma after 27 years following bus crash

    Woman wakes up from coma after 27 years following bus crash

    The story of a woman in the United Arab Emirates who apparently woke up from a 27-year-long coma has grabbed global attention. A WOMAN has woken from a coma, 27 years after she first slipped into unconsciousness following a serious road accident .
    Sri Lanka's day of deadly attacks

    Sri Lanka's day of deadly attacks

    The death toll stands at 290 and more than 500 people have been injured, according to the president's office. At least six bomb blasts were reported from different parts of Sri Lanka on Sunday morning.
    Many House Democrats wary of trying to impeach Trump after Mueller report

    Many House Democrats wary of trying to impeach Trump after Mueller report

    More than 30 Democratic representatives, many of whom are in their first term, represent districts that supported Trump in 2016. It's a point of principle, and every member of the House, and every member of the Senate should be called on to vote ...
  • Modric: 300 games with Real Madrid

    Modric: 300 games with Real Madrid

    Chelsea are undergoing a unusual season under Maurizio Sarri, but Champions League qualification is the minimum requirement.
    Social media blocked following Sri Lanka terrorist attack

    Social media blocked following Sri Lanka terrorist attack

    Local Christian groups have said they faced increasing intimidation from some extremist Buddhist monks in recent years. He estimated that more than a thousand people had come to the church for Easter Sunday "because it is a special day".
    Toddler snatched from dingo's jaws stable

    Toddler snatched from dingo's jaws stable

    Air ambulance pilot Frank Bertoli, who attended the scene at Fraser Island in Queensland , praised the parents' "quick thinking". The boy is now in a stable condition. "The dad got out to investigate and found the dingo dragging the toddler away".
  • Saracens power past Munster to reach Champions Cup final

    Saracens power past Munster to reach Champions Cup final

    Vunipola was booed throughout his cup match on Saturday, April 20, and was confronted by a gesticulating opposition pitch invader.
    Hoo buddy, Everton just absolutely embarrassed Manchester United

    Hoo buddy, Everton just absolutely embarrassed Manchester United

    While there were no standout performers for United , veteran midfielder Nemanja Matic shouldered the blame for the defeat. Things can be turned around quickly, but big decisions, good decisions don't come around quickly.
    Northern Ireland police release video in hunt for killer

    Northern Ireland police release video in hunt for killer

    Detectives have said the New IRA, a dissident republican group, was most likely behind the reporter's killing . Mr Freeman's comments were in response to the death of 29-year-old Ms Mckee, who was shot dead during rioting.
  • White House's Kudlow says end to Iran oil waivers won't hike prices

    White House's Kudlow says end to Iran oil waivers won't hike prices

    He said normal interactions between Iran and other countries are "reasonable and lawful" and deserving of respect and protection. Iran's biggest oil buyers are China and India. "Watch out for the relationship between the United States and China", Kloza said.
    Sri Lanka attacks: Asos billionaire loses three children in blasts

    Sri Lanka attacks: Asos billionaire loses three children in blasts

    In addition to the majority stake in Britain-based ASOS , Holch Povlsen also owns an interest in its German rival Zalando . It was Sri Lanka's deadliest violence since a devastating civil war in the South Asian island nation ended a decade ago.
    Who Will Survive Game Of Thrones Season 8?

    Who Will Survive Game Of Thrones Season 8?

    At the same time, even Sansa Stark could question him as she saw it first hand how he behaved with her late father Ned Stark. It's fair to say, though, that most Game of Thrones fans will be happy to see the ante upped next week.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.