After market close today, Tesla released its financial results and shareholders letter for the fourth quarter 2017. Wall Street was expecting record revenue of about $3.2 billion for the quarter and a loss of about $3.19 per share due to large capital expenditure caused by the slow start of Model 3 production.
The company delivered higher on revenue of ~$3.3 billion and slightly lower than expected loss of $3.04 per share (non-GAAP) )($4.01 per share GAAP).
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It compares to revenue of ~$2.9 billion and a loss of $3.70 per share (GAAP) during the prior quarter (Q3 2017).
The shareholder letter has been embedded in full below.
Tesla reiterates that it plans to begin “generating positive quarterly operating income on a sustained basis at some point in 2018.”
The market is so far reacting positively to the results – TSLA is up 2% in after hours trading at the time of writing.
Here we will be posting our follow-up posts about the earnings to expand on the most important points (refresh the page to see the most recent posts):
- Tesla gives update on Model 3 production: on track for 2,500 per week by next month
- Tesla’s ‘Mobile Service’ effort improving for Model 3 – trucks already doing 30% of service visits
- Tesla promises ‘series of new Autopilot features in 2018’, still plans coast-to-coast drive
- Tesla President of sales and service leaves, Elon Musk takes over his responsibilities
- Tesla Model Y production plans to be unveiled in 3-6 months, capital investment starting this year, says Elon Musk
Here’s the shareholder letter in full: