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
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