Electric car titans Tesla Motors (TSLA) this afternoon reported Q1 revenue and profit per share that topped analysts’ expectations.
Revenue in the three months ended in March rose 27%, year over year, to $713 million, on an adjusted, non-GAAP basis, yielding EPS of 12 cents.
Analysts had been modeling $684 million and EPS of 8 cents.
The company produced 7,535 Model S sedans during the quarter, and delivered 6,457 vehicles.
The company had $63 million in cash flow from operations, it said, and $141 million in capital expenditures.
The stock is dropping in late trading, down $12.85, or over 6%, at $188.73 $8.53, or almost 5%, at $192.82.
For the current quarter, the company said it expects to produce 8,500 to 9,000 vehicles, and to make delivery of 7,500.
Tesla will host a conference call with analysts at 5:30 pm, Eastern time, this evening, and you can catch a webcast of it on the company’s investor relations Web site.
Update: The stock is now down $13.65, or almost 7%, at $187.70.
No comments:
Post a Comment