Tesla reports big Q4 loss, but shares rise on outlook
- 8 years ago
Tesla Motors reported a whopping loss in the fourth quarter Wednesday that badly missed estimates, but the electric car maker cheered investors with a rosy outlook for the rest of 2016 and offered reassurances that production is on track.
As a result, shares rose in after-hours trading -- up 14% at one point -- despite the earnings miss.
The company said it expects to be profitable on an adjusted basis in 2016 and be cash-flow positive, even as it invests another $1.5 billion in production facilities.
Tesla says it plans to deliver 80,000 to 90,000 cars to customers this year, up from more than 50,000 last year.
As a result, shares rose in after-hours trading -- up 14% at one point -- despite the earnings miss.
The company said it expects to be profitable on an adjusted basis in 2016 and be cash-flow positive, even as it invests another $1.5 billion in production facilities.
Tesla says it plans to deliver 80,000 to 90,000 cars to customers this year, up from more than 50,000 last year.