Tesla Misses Earnings Expectations By 339% (An Expected Loss Of $702 Million)

CNBC- Tesla reported a wider-than-expected loss and less revenue than anticipated during the first quarter as demand waned after the company lost a valuable tax credit for its buyers on Jan. 1. Here’s what Tesla reported, versus what analysts expected based on average estimates compiles by Refinitiv:

Loss per share on an adjusted basis: $2.90 versus 69 cents expected
Revenue: $4.54 billion versus $5.19 billion expected
On an unadjusted basis, Tesla lost $702.1 million, or $4.10 a share, compared with a loss of $709.6 million, or $4.19 a share during the same period last year.

Its shares, which closed down by about 2 percent Wednesday, rose by about 1 percent after the markets closed. The company previously warned that first-quarter income will “be negatively impacted” because of “lower than expected delivery volumes and several pricing adjustments.” Tesla said earlier this month it delivered 63,000 cars during the quarter, well below analysts’ consensus estimates of 76,000. A $7,500 federal tax credit paid to buyers of its electric cars was cut in half Jan. 1, depressing demand in the first quarter.

Things Elon Musk Needs To Do ASAP:

#1 Stop Teslas from blowing up while parked

#2 Stop SpaceX capsules from blowing up and then trying to scrub the footage off the internet

#3 Stop Tesla from hemorrhaging money

(read above article about them losing 702 million dollars, not selling as many cars as they said they would and missing earnings expectations by 339%. THREE HUNDRED AND THIRTY NINE PERCENT!!!!!!!!!!!!!!!!!!!!!!!!!!!!)

#3,423,904 Making a fleet of self-driving Tesla taxis

This is your visionary genius? LOL.