Tesla Q1 Revenue $3 billion 410 million net loss of $710 million, an expansion of the same period

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 Tesla Q1 Revenue $3 billion 410 million net loss of $710 million, an expansion of the same period


Although since April, Tesla has invested a lot of money in upgrading the Model3 capacity of its electric vehicle, which has been burning faster this season, but the companys losses are lower than analysts expectations. We will achieve positive gains in the third and fourth quarters at least in the third and fourth quarters, and we expect to achieve earnings under general accounting standards in the quarter, Tesla said in a shareholder letter. Tesla still insists on its long-term gross margin target of 25% for Model3 electric vehicles, but it is expected to decline in the near future, due to the higher cost of local labor in the Tesla factory to automate production. The second quarter, as the company is changing the production model to achieve stability to new car deliveries around the world, the high profit ModelS and ModelX electric vehicle delivery may be flat in the first quarter. The company said its deliveries in the third quarter should pick up. In addition, Tesla expects its battery business revenue to increase, and its gross margin will turn negative in the second half of this year. First quarter major financial data (GAAP) Revenue was $3 billion 409 million, compared with $2 billion 696 million in the same period last year, an increase of 26.4% over the same period last year. Among them: Electric vehicle business revenue was $2 billion 735 million, compared with $2 billion 290 million in the same period last year, an increase of 19.4% over the same period last year. Energy production and storage business revenue was $410 million, compared with $214 million in the same period last year, an increase of 91.6% over the same period last year. Services and other business revenue was $263 million, compared with $193 million in the same period last year, an increase of 36.3% over the same period last year. Gross profit was $457 million, compared with a gross profit of $668 million in the same period last year, down 31.6% from the same period last year. The net loss of the vested shareholders was $710 million, compared with a net loss of $330 million during the same period last year. Net loss per diluted share was $4.19, compared with a net loss of $2.04 per share during the same period last year. The main financial data (Non-GAAP) net loss in the first quarter was $568 million, compared with a net loss of $215 million in the same period last year. Net loss per diluted share was $3.35, compared with a net loss of $1.33 per share during the same period last year. Other operating data. By the end of the quarter, the company held a total of $2 billion 666 million in cash, cash equivalents and short-term investments at the end of the year at $3 billion 368 million at the end of 2017. (Chen Chen) the source of this article: NetEase science and technology report editor: Wang Fengzhi _NT2541 The net loss of the vested shareholders was $710 million, compared with a net loss of $330 million during the same period last year. Net loss per diluted share was $4.19, compared with a net loss of $2.04 per share during the same period last year. First quarter major financial data (Non-GAAP) Net loss was $568 million, compared with a net loss of $215 million during the same period last year. Net loss per diluted share was $3.35, compared with a net loss of $1.33 per share during the same period last year. Other operating data By the end of the quarter, the company held cash, cash equivalents and short-term investments totaling $2 billion 666 million, up to $3 billion 368 million at the end of 2017. (cherishing Chen)