CNBC is reporting:
Tesla reported a wider-than-anticipated net loss for the fourth-quarter as
higher production costs offset better-than-anticipated revenues.
The
electric-car maker reported a fourth-quarter non-GAAP net loss of 65
cents per share on revenue of $306.3 million. A year earlier, the
company lost 69 cents per share on just $39 million in sales.
Analysts
had expected the company to report a loss of 53 cents a share on $298
million in revenue, according to a consensus estimate from Thomson
Reuters.
Research and development costs were $62 million in the
quarter on a non-GAAP basis but Tesla expects R&D spending to fall
about 15 percent in the first quarter.
The company also expects to continue to make production improvements and should be "slightly profitable" in the first quarter.
We'll see. I notice they didn't mention which year that "first quarter" would be in.
When I turned into the Wal-Mart parking lot, I ran into a Tesla, so I asked, "what's up?" It responded, "I'm shocked at the 4Q loss."
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Ha.
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