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Tesla Inc. shares rose 0.3% late Wednesday after the Silicon Valley car maker reported a narrower-than-expected adjusted first-quarter loss and quarterly sales that beat expectations. Tesla said it lost $709.6 million in the quarter, or $4.19 a share, compared with a loss of $330.3 million, or $2.04 a share, in the year-ago period. Adjusted for one-time items, the company lost $3.35 a share, compared with $1.33 a share a year ago. Sales rose to $3.41 billion, compared with $2.70 billion a year ago. Analysts polled by FactSet had expected an adjusted loss of $3.54 a share on sales of $3.28 billion for the quarter. Tesla said it expects a GAAP profit and positive cash flow in the third and fourth quarters of 2018. It also reduced its capital expenditures projections for the year, to $3 billion from $3.4 billion.
Tesla Q1 rev. $3.41 billion vs. expectations $3.28 billion
Tesla Q1 GAAP loss $4.19 vs. expectations $4.04
Tesla Motors Inc. Chief Executive Elon Musk made less than the median Tesla employee in 2017, though other top Tesla executives made much more, the company disclosed Thursday afternoon. According to Tesla, Musk made $49,920 in salary in 2017 with no other compensation, and Musk refused to accept the salary that Tesla is legally obliged to pay him. Musk owns 19.9% of Tesla's stock, a stake that was worth about $9.4 billion as of Thursday afternoon, according to FactSet. The median employee at Tesla received $54,816 last year, the company said, which leads to a ratio between CEO and the typical worker of 0.91:1. Companies this year are reporting their CEO pay in relation to the compensation of a median worker for the first time as a result of a 2015 rule mandated by the Dodd-Frank act. While Musk made less than the typical worker, Chief Financial Officer Deepak Ahuja, who returned to the post in which he previously served in 2017, received $15.5 million in compensation in 2017, more than 282 times the median Tesla employee. Ahuja was the highest paid top executive listed in Tesla's filing with the Securities and Exchange Commission.
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Tesla Beats Q1 Earnings Expectations, Shares Gain
Tesla (TSLA) just released its first quarter financial results, posting an adjusted loss of $3.35 per share and revenues of $3.41 billion.
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Tesla's Q1 Earnings Recap: Per-Share Loss Better Than Expected, Model 3 Updates
Tesla posted a much bigger Q1 per share loss than it did a year ago, but revenues rose as well and both profits and revenues rose more than analysts had forecast. There's no other obvious bad news, so the company's stock is rising in after-hours trading.
Tesla Inc. (NASDAQ: TSLA) is up more than 1% in the after-hours trading session following the release of its Q1 2018 earnings results. The company reported revenue of $3.41 billion, which…
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Tesla, Inc. engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments. The Automotive segmeng includes the design, development, manuafcture and sale of electric vehicles. The Energy GEneration and Storage segment includes the design, manufacture, installation, sale, and lease of stationary energy storage products and solar energy systems, and sale of electricity generated by its solar energy systems to customers. The company was founded by Jeffrey B. Straubel, Elon Reeve Musk, Martin Eberhard, and Marc Tarpenning on July 1, 2003 and is headquartered in Palo Alto, CA. (See Full Profile)
Name | Chg % | Market Cap |
---|---|---|
Honda Motor Co. Ltd. ADR | $61.56B | |
Toyota Motor Corp. ADR | $213.92B | |
Ford Motor Co. | $44.87B | |
General Motors Co. | $51.33B |