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Tesla Burns Through $2 Billion In 2017 (theverge.com)

Posted by BeauHD on from the spend-money-to-make-money dept.

An anonymous reader quotes a report from The Verge: Tesla reported record revenue for 2017, floated by customer deposits of the recently announced Semi truck and Roadster sports car. Despite its optimistic sales numbers, Model 3 production issues and cash flow problems haunt the company, but Tesla insists its on track to meet its production goals of 5,000 cars a week by mid-2018. Tesla reported $3.3 billion in revenue, which was expected, but also posted a $771 million quarterly loss -- its largest quarterly loss ever. The company reported a negative free cash flow of $276.7 million. And it reported a net loss of $2.24 billion in 2017, a significant increase over the $773 million net loss it reported in 2016.

2 of 188 comments (clear)

  1. Smart with money by Anonymous Coward · · Score: 0, Interesting

    But, he's being smart with money, like firing a Tesla into space, buying a failing SolarCity and absorbing its losses, losing money on an Australia battery contract just to make big news, etc.

  2. Tax changes by DogDude · · Score: 5, Interesting

    Everybody's taking a loss in 2017 and posting profits in 2018 to take advantage of the tax changes.

    --
    I don't respond to AC's.