With all the shutdowns in the automotive industry and horrible results reported elsewhere, it is nice to see Tesla made a $16M profit for Q1-2020.
Is it the only automotive company to have achieved that impossible task?
Check out $TSLAQ on Twitter. The meltdown is hilarious.
TSLA closed at $800, now well over $850.
I bought at 805
Now I feel better
Tesla Network coming next year.
looking forwad to buying a raodster with my stock profits
@jimglas - I want a ride. Just too conservative to spring for a roadster! :(
Come to think if it, I want a ride in the Semi too.
I will own a Cybertruck then they come out. Very much looking forward to it as I will then be down to 1 vehicle. Not gas truck and electric car, just one off-planet, floating, personnel carrier. Then I'll go looking for an F-150 owner and challenge them to a tug of war!
Sorry...back on topic. TSLA rocks!
Great news! (I'm averaged now at $650/sh.) I don't expect Q2 to look good (no car company's Q2 will), and with a general recession (at the least) resulting in the economy, I'm holding my powder on buying another 100 shares.
Tesla has and will always be profitable.
Do not listen ever to FUDster and trolls with hidden agendas lurking around.
They are EVIL liars.
After 1 month of decency on these forums, the circus is open again
"Tesla on Wednesday reported a steep drop in net income in the first quarter compared with the previous quarter, as the coronavirus pandemic disrupted the electric-car maker’s operations in the United States and China, its two largest markets."
Looks like the revenue from Service and Charging gave Tesla a slim profit as it did in last quarters of 2019.
Services and Other was a net loss of $88 million to tesla in Q1 2020.
Eagles is always wrong.
Gross margins of 20%+ is what gave them the millions.
FCA credits gave them $300M. And that deal lasts another 7 quarters.
M-A-B-MCMLXXX | May 1, 2020 Services and Other was a net loss of $88 million to tesla in Q1 2020."
Net loss reduction was $500M which is what pushed Tesla to profit, the increased revenue from service, as cars come out of warranty still have lots of service issues, and the charging, with lines and the big charging stations generating a lot of cash.
@fishev "Net loss reduction (1) was $500M which is what pushed Tesla to profit, the increased revenue from service (2), as cars come out of warranty still have lots of service issues, and the charging, with lines and the big charging stations generating a lot of cash."
Do you ever get tired of just making up numbers and wrapping them in gibberish?
1. Reduction in loss doesn't equal profit, it equals less loss.
2. There was decreased revenue from service Q/Q.
What drove tesla's profitability was sales and lease revenue, which increased Q/Q my $1.4B to $5.1B. Those revenues cost tesla $3.8B, for a margin on sales and lease of $1.3B. That was offset by the loss in services and other of about $90M, for their total profit of $1.23B.
M-A-B-MCMLXXX | May 1, 2020 "Reduction in loss doesn't equal profit"
The net loss from warranty and charging was reduced by $400M which indeed equals an overall profit though revenute dropped by 20% from Q4 19 as expected due to Covid-19 issues.