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Elon Musk believes Tesla will become profitable only in the second half of 2019

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Elon Musk believes Tesla will become profitable only in the second half of 2019

Tesla CEO Elon Musk told a conference on Thursday that the carmaker is unlikely to be profitable in the first quarter of this year. However, this should happen in the second quarter of 2019.

But it’s still early to listen to what the CEO has to say. Last year, at that same meeting in January, Musk reported that the forecast was that Tesla would become profitable as early as the third quarter of that year. Did not happen.

“I am optimistic about the company becoming profitable in the 1st tri. Not much, but I am optimistic that we will be profitable in the period and in all other quarters, “Musk said.

Tesla Model

The company comes in a good second half as it hit its own revenue-increasing targets but has yet to meet Wall Street expectations. Throughout the year, the automaker got caught up in getting the productivity it wanted.

In addition, there was the case of the Tweet of Musk, about closing the company’s capital, which also rocked the financial results, generating an internal crisis at Tesla.

Musk also reported adjusted revenues at $ 1.93 per share and $ 7.23 billion in Q4 revenue in 2019. The New York Stock Exchange’s expectation was that revenue per share would be $ 2.10, with a total of US $ 7.1 billion.

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