Tesla's shares jump after-hours with "overwhelming" Model 3 response


Tesla Inc. (NASDAQ: TSLA) reported second-quarter 2017 earnings after markets closed on Wednesday.

"What we have ahead of us, of course, is an incredibly hard production ramp", Musk said.

Despite a warning by Chief Executive Elon Musk last week that the Silicon Valley automaker would face six months of "manufacturing hell" in producing its first Model 3s, investors were enthusiastic over a remaining $3 billion cash on hand at the end of the second quarter, as loss-making Tesla spent just shy of $1 billion on capital expenditures, less than expected. Here's a close look at the quarter. Tesla sold fewer of the vehicles in the second quarter than it did in the first, a somewhat disturbing sign.

Several factors will influence our non-GAAP automotive gross margin for the rest of this year.

Sales in the second quarter rose to US$2.79bn from US$1.28bn the same period a year ago.

Its adjusted loss of $1.33 per share beat Wall Street's forecast of a $1.88 loss per share, according to analysts polled by FactSet.

Tesla maintained its delivery guidance for its new Model 3 auto despite its chief executive warning about "manufacturing hell" in the coming months, as it comfortably beat expectations with its quarterly results last night.

While Tesla intends to make the Solar Roof at its factory in Buffalo, New York, the company said in its earnings report that the first installed Solar Roofs, which it described as "pilot" versions, were made at Tesla's factory in Fremont, Calif.

Musk said Model 3 net orders have reached a rate of about 1,800 a day.

Yeah, the new Model 3 is good.

Tesla is continuing to see demand for its first mass market vehicle, the Model 3, with an average of 1,800 new orders a day. But Tesla revealed other important numbers in its earnings letter and conference call - including the long-hidden number of reservations for the lower-priced Model 3 that it just launched. Company fiscal year is ending in December and analysts' consensus recommendation is Hold for TSLA and estimated EPS for next quarter is $ -1.52.

The company expects positive Model 3 gross margin by Q4, and a 25% gross margin for the vehicle in 2018. "The combined Model S and Model X market share grew in the U.S. premium luxury vehicle market during Q2 2017", the company said in its statement.

That's still part of the plan, Musk said Wednesday.

Tesla CEO Elon Musk said today the forthcoming Model Y electric crossover vehicle will be built on a similar architecture to the recently released Model 3, in an effort to bring the auto to market sooner. The Energy generation and storage segment includes the design, manufacture, installation, and sale or lease of stationary energy storage products and solar energy systems to residential and commercial customers, or sale of electricity generated by its solar energy systems to customers. That's right - they think these 10 stocks are even better buys.

A Tesla could be fixed at an owner's home or in a parking lot.



Related Posts

Bitcoin Civil War Could Create Cryptocurrency Clone
As a result, on August 1, the vast majority of bitcoin exchanges are shutting down for almost a full day to process BCH payouts. Alternatively, it is likely that Bitcoin Cash will be worth something but who knows how much, so there is no easy answer.

Austin Jackson Makes One of the Best Catches You'll Ever See
It may not seem possible that the Sox could be back in first place, largely due to all the negativity that has followed the club. They even gave Tzu-Wei Lin a chance who actually played pretty good but not good enough for them to keep him around.

Lawsuit: Ex-detective says Trump worked with Fox on DNC aide story
Wheeler was also falsely quoted saying the Democratic National Committee or Clinton's team were blocking the murder investigation. The AP reports that White House spokeswoman Sarah Huckabee Sanders addressed the issue today at a White House briefing.

Here's Your Best Look Yet at the Galaxy Note 8
Now a new render coming from the Forbes reveals that Samsung Galaxy Note 8 is a going to be one large device. On the storage front, the smartphones pack 4GB of RAM along with 64GB of internal storage.

Shahid Khaqan Abbasi elected as Pakistan Prime Minister
Following the Supreme Court's ruling last week, the PML-N had agreed on Abbasi as its candidate for interim prime minister. Voting to elect the new prime minister after ouster of Nawaz Sharif in Panama case has been completed.

Russian Federation defends slashing U.S. diplomats as Putin warns further retaliation
Nevertheless, the episode marks a major setback for the president, who now finds his hands tied by his own party. At the time, the Kremlin said it would put any retaliation on hold as it waited for Trump to take office.

'Abnormal': Sally Yates Shreds Trump for Firing Comey, Bullying Sessions
Let's hope Trump is wrong. "We've already taken a number of steps ..." The attorney general deserves respect, agrees Bauer. Kennedy. "They seek to live up to this motto through truly shocking acts of violence created to instill fear".

Chelsea boss Antonio Conte wants to avoid 'Mourinho season'
Conte's words might just havebeen a motivational call for Morata but many Chelsea fans didn't see it that way. It's not easy, but I think this is modern football".

Scaramucci Is Out As White House Comms Chief
In the six months since President Trump took office, 13 people have left the administration - whether they resigned or were fired. The staff shuffles have spawned some media analysis about how much connection the president still has to the Republican Party.

Apple earnings gain sends Dow above 22000
Genetic tools company Illumina raised its projections for the rest of the year after solid results in the most recent quarter. Greater China, however, reported its sixth straight decline in revenue, hurt by customers switching to locally made phones.

© 2015 Stocks News Daily. All Rights reserved.