Tesla (TSLA) Beats Q1 EPS and Revs

Tesla (NASDAQ: TSLA) reported Q1 EPS of ($3.35), versus the analyst estimate of ($3.58). Revenue for the quarter came in at $3.41 billion versus the consensus estimate of $3.22 billion.

• Model 3 production hit 2,270/week in April for the 3rd straight week over 2,000
• Q1 Auto GAAP gross margin up sequentially by 80 bp and non-GAAP by 500 bp
• Cash balance of $2.7 billion at the end of Q1
• 2018 Capex projection reduced from >$3.4 billion to <$3 billion
• Expecting positive GAAP net income and positive cash flow in Q3 and Q4 2018

For earnings history and earnings-related data on Tesla (TSLA) click here.

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