Tesla reports about loss of about $1 bn at end of 2018

12:27 - 31.01.2019


January 31, Fineko/abc.az. Losses of American company Tesla, engaged in production of electric vehicles, amounted to about $976 million ($5.72 per share) for the past year.

According to Tesla's corporate reports, Company's total revenue for 2018 amounted to approximately $21.4 bn that is a record for its entire existence. The revenue rose up to $7.2 bn in Q4 of 2018.

The net profit for the last 3 months of 2018 amounted to approximately $139.4 million. In Q3 of 2018 this figure reached $311.5 million. Thus, as portal The Verge says, this is the first case in the history of Tesla, when the Company records profits for two consecutive quarters. At the same time, in the published reports, the automaker made a forecast that every quarter of 2019 will be profitable for it.

Tesla also stated that it plans to reach the promised volume of production of electric cars Model 3 in 500,000 cars a year between Q4 of 2019 and Q2 of 2020. Earlier it was planned that this figure will be achieved already in 2018, but this did not happen.

 

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