Tesla reports continued losses running up to 2019 | DSF.my

TechTalk

Published on July 26th, 2019 | by Daniel Sherman Fernandez

0

Tesla reports continued losses running up to 2019

Can Tesla Recover From This Huge Loss?

It has just been reported this week that Tesla has lost a massive USD408m (RM2 billion plus) in the three months to the end of June.

So far in 2019, Tesla has produced 72,531 Model 3 cars, up from 62,975 in the previous quarter and Tesla has reduced production of the Model S and Model X to just 14,517 units combined.

Tesla said it would cut expenditure in 2019 as it makes manufacturing more efficient continues to plan on opening a factory in Europe in the coming quarters.

Press Release: Tesla reported a net loss of $408 million, translating to a loss of $2.31 per share, a notable improvement from the $3.06 loss the company reported in Q2 2018. In contrast, analysts polled by FactSet expected Tesla to report an adjusted quarterly loss of $0.39 per share. Estimize, a crowdsourced platform that aggregates estimates from analysts, executives, fund managers, and academics, expected Tesla to report an adjusted loss of $0.25 per share.

Tesla reported a revenue of $6.3 billion for the second quarter, which is also a notable improvement over its figures from Q2 2018, a time when the company showed a revenue of $4 billion. Analysts polled by FactSet expected Tesla to report sales of $6.5 billion in the second quarter, while Estimize placed Tesla at a slightly more optimistic $6.6 billion.


About the Author

www.dsf.my is a service to the public and other website owners. www.dsf.my is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on any information contained within the site www.dsf.my. While the information contained within the site is periodically updated, no guarantee is given that the information provided in this website is correct, complete, and up-to-date. www.dsf.my is not responsible for the accuracy or content of information contained inside.



Leave a Reply

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload CAPTCHA.

Back to Top ↑
  • Find Us on Facebook

  • Recent Posts

  • Archives