- Daily Zen
Tesla (TSLA) reported revenue of $3.41 billion for its 2018 Q1 earnings. That is a 26.3% revenue increase quarterly compared to its reports last year and also, slightly higher than the estimated $3.22 billion in sales projected by analysts. The company’s report beat the estimated share loss of $3.54, according to analysts polled by FactSet by recording a first-quarter loss of $3.35 per share, after trading closure on Wednesday.
Most investors in Tesla consider reports from this quarter very crucial since the company has recently recorded a lot of expenses, regardless of CEO Elon Musk’s continued pontificate over the company’s long-term goals. For the past couple, Musk has been emphasizing on hitting production goals before the company can begin to make a profit if the expenses are in line. Meanwhile, the company has frequently revised its production targets through these past months to grow different perceptions. And more skepticism is drawn from recent challenges, which include criticism of its product quality after a recall of over 100,000 units of Model S due to faulty power steering and fatal Model X autopilot crash and a fresh $2 billion patent infringement lawsuit filed by startup Nikola.
The company’s investors have profoundly taken an optimistic view of Tesla’s business models; in the sense that every established goal stands to be achieved. “I think that if people are concerned about volatility they should not buy our stock,” Musk said on a conference call with investors, according to TheStreet.
Before the release of its first-quarter earnings, people expected to hear about Tesla’s product quality, workers safety, China factory, Tesla Y and the $2 billion acquisition of SolarCity which is now amounting to a debt load of $2.9 billion.
The following are five takeaways from Tesla’s first-quarter earnings report released on Wednesday, May 2 after the close of stock market.