Tesla Showed A Financial Report for The Second Quarter of 2019

Tesla Showed A Financial Report for The Second Quarter of 2019

Tesla finally provided a financial report for the second quarter of 2019. Unfortunately, despite the absolute record of deliveries, the figures show loss: the company’s income amounted to 6.3 billion US dollars, but Tesla recorded a loss of 408 million dollars, in terms of share, this is $2.31.

Recall that at the beginning of the month, the company reported that they were able to deliver 95,356 new cars to customers in the second quarter of 2019. This figure contrasted sharply against the background of the first quarter of 2019, then Tesla managed to deliver about 63,000 cars, which indicates a more than 30% increase in production.

Based on these numbers, analysts expected income at 6.47 billion US dollars and, accordingly, a much smaller loss, at 35 cents per share. But despite this not very positive indicator, there is still a positive trend, since the loss in the first quarter was $702 million, but this time it is almost 300 million less. In addition, the company has a sufficient amount of cash, about 5 billion US dollars after the end of the second quarter.

Tesla will focus on cheaper logistics, and will also strive to increase production from 7,000 to 10,000 Model 3 per week by the end of 2019. The overall plan for the production of cars in 2019 is 360,000 – 400,000 cars.

We want to remind:

Tesla’s Shares Have Dropped Significantly: Why?

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