During the quarter, Twitter achieved adjusted earnings of $0.16 per share, better-than the $0.12 per share expected by Wall Street analysts.
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Looking forward, Tesla expects to deliver 80,000 to 90,000 new Model S and Model X in 2016. “It is a smaller auto, and without as many bells and whistles as the Model S or X. But the goal is to have a very compelling, affordable, mass market electric vehicle and I feel pretty good about that goal”.
In his tweets, Musk said consumers could begin pre-orders next month with a $1,000 deposit.
Even though gas prices have fallen dramatically, Tesla has seen high demand for its Model S luxury sedan and its SUV crossover, the Model X. That expectation was proven at least partially untrue by Tesla’s shipping forecast. Tesla expects it will be profitable by the fourth quarter of this year. Tesla TSLA, +6.23% recently confirmed the auto will cost $35,000 before any federal and state incentives.
It’s been a rough year for Tesla stock. But after losing 38% of their value so far on the year -closing at $143.67 on Wednesday – Tesla shares jumped in after-hours trading as investors were heartened when Musk assured them that Model X production is on track. He projected that sales will grow between 60 percent and 80 percent in the year ahead.
“Heading into Q4, investor concern was focused on cash flow, so we think the headline of…net cash flow positive guidance for 2016 will likely create a lot of excitement”, UBS analyst Colin Langan said.
The Palo Alto automaker said revenue rose 27% to $1.2 billion for the quarter as worldwide deliveries of its Model S sedan increased to 17,478.
The Tesla Model 3 bookings are at $1,000 and the balance $34,000 closer on to the delivery date. Its Bolt – which will cost about $30,000 – is coming out later this year.
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It plans to invest US$1.5 billion to add capacity and start production at a huge mega battery factory in the Nevada desert. Excluding some items, the company lost 87 cents a share, compared with the average analyst estimate for a 10-cent profit.
