Tesla CEO Elon Musk said on Thursday that the automaker would likely not be profitable in the first quarter of this year.
Musk had said on that January call:"I'm optimistic about being profitable in Q1. Not by a lot, but I'm optimistic about being profitable in Q1 and for all quarters going forward."Tesla is shuttering most of its stores as the company switches to an online-only sales model
During the second half of 2018, Tesla posted the first consecutive quarterly profits in its history, though it failed to meet Wall Street's expectations for its fourth-quarter earnings. The automaker posted adjusted earnings of $1.93 per share on $7.23 billion in revenue during the fourth quarter. Wall Street analysts had expected adjusted earnings of $2.10 per share on revenue of $7.1 billion.
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