Tesla will show a profit during the third quarter and the fourth quarter this year (2018), the company’s CEO, Elon Musk, has revealed.
To be clear here, the comments from the Tesla CEO came via his private Twitter account, but given how often the exec uses that for company announcements, it seems likely that the statement represents official company expectations.
These comments follow earlier ones claiming that the company had no need of a cash raise anytime this year — in keeping with earlier comments from company execs, but in spite of comments from some industry analysts.
Elon Musk’s comments came as a response to an article published in The Economist, one citing the brokerage house Jefferies and claiming that Tesla would require “$2.5 billion to $3 billion in additional funding this year.”
As such, the tweet was somewhat pithy, but to the point. Here it is:
The Economist used to be boring, but smart with a wicked dry wit. Now it’s just boring (sigh). Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money.
— Elon Musk (@elonmusk) April 13, 2018
I’d like to think that once that occurs some of the more blatant examples of smear jobs against the company that we’ve seen in recent times would become a thing of the past … but such smear jobs could well pick up pace in such exuberant.
So, hold out no expectations that lies will become any less prevalent from here on out, but keep in mind that the company may well begin showing a profit in the third quarter despite the aggressive expansion path still being pursued.
Images by Kyle Field
Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Former Tesla Battery Expert Leading Lyten Into New Lithium-Sulfur Battery Era — Podcast:
I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...