Tesla stock down after company reports wider-than-expected loss, revenue miss
Tesla Inc. posted a wider-than-expected adjusted loss in the first quarter, sending the stock to a 2% decline in the extended session Wednesday.
Tesla ended the quarter with $2.2 billion, $1.5 billion less than in the end of 2018, thanks to a $920 convertible-bond payment and an increase in the number of vehicles in transit to customers at the end of the first quarter, the company said in a letter to shareholders. Tesla reaffirmed its prior outlook of delivering 360,000 to 400,000 vehicles this year, and said that vehicle production would be “significantly higher” than deliveries. It said it continues to target a 25% non-GAAP gross margin on Model S, Model X and Model 3.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla Promises Incredible Numbers For 'Tesla Network' Robotaxi ServiceTesla asserts owners can make up to $30,000 per year in profit from hiring out their cars in the Tesla ride-hail network, which would compete with Uber at half the price. Elon Musk says you would be crazy to buy any other car -- what do the numbers say?
Read more »
Tesla investigating apparent explosion of parked car in ShanghaiTesla said Monday it immediately sent a team to investigate an explosion of one of its cars in Shanghai Sunday evening local time.
Read more »
Stocks making the biggest moves premarket: Tesla, Coca-Cola, Twitter, Verizon, Hasbro & moreSome of the names on the move ahead of the open.
Read more »
Elon Musk’s 6 productivity rules, including walk out of meetings that waste your timeIn an email to Tesla employees, the tech entrepreneur shared tips on getting things done.
Read more »
In a bind, Musk hopes autonomous Tesla taxis will drive a new, positive narrativeTesla's Elon Musk is expected to detail a widespread deployment of fleets of self-drive Teslas to compete with Uber, Lyft and Waymo on Monday. Safety advocates are alarmed.
Read more »
Nvidia fires back at Tesla's claim that it created the world's best chip for self-driving carsNvidia said on Tuesday that Tesla made an inaccurate comparison between the companies' technologies.
Read more »
Traders are stocking up on Tesla 'crash protection' ahead of the electric-car maker's Q1 resultsInvestors are mounting bearish bets ahead of Tesla's first-quarter earnings this Wednesday.
Read more »
Tesla Shaking Up Board With Long-Time Insider Steve Jurvetson, 3 Others To LeaveThe carmaker announces the biggest change in its board makeup since Tesla's founding with a late Friday release, when equity markets were closed for Passover and Good Friday.
Read more »
After-hours buzz: Facebook, Microsoft, Tesla & moreSee which stocks are posting big moves after the bell on April 24.
Read more »
Elon Musk claims Tesla will have 1 million robotaxis driving next year — that's optimisticThe Tesla CEO warned investors, 'Sometimes I am not on time, but I get it done.'
Read more »
Elon Musk told this Reddit user they 'should interview at Tesla' — here's whyElon Musk told this Reddit user they 'should interview at Tesla' — here's why via CNBCMakeIt
Read more »