Tesla rises as company ekes out a Q1 profit
Elon Musk, chief executive officer of Tesla Inc., speaks during a ceremony at the company’s Gigafactory in Shanghai, China, on Tuesday, Jan. 7, 2020.
Qilai Shen | Bloomberg | Getty Images
Tesla shares rose more than 7% after hours as the company showed its third consecutive quarter with a profit.
Here’s how the company did:
- Earnings per share (EPS): $1.24 per share, ex-items
- Revenue: $5.99 billion
Wall Street was expecting an adjusted loss of 36 cents per share and revenue of $5.9 billion for Q1, according to a survey of analysts by Refinitiv. However, estimates varied widely, and comparing Tesla’s actual results with estimates isn’t straightforward, given the difficulty of predicting the impact of the novel coronavirus.
The company reported a GAAP profit during the first quarter of $16 million.
However, Tesla also recorded negative free cash flow of $895 million, which will complicate …continued .
[Source: CNBC News]