David Einhorn Swings at Apple, Hits Dell: Tech Weekly
On Wednesday, Tesla reported a wider-than-expected loss that drove shares sharply lower for the week.
Tesla reported a fourth-quarter non-GAAP loss of 65 cents a share on $306 million in revenue. Analysts polled by Thomson Reuters were looking for a loss of 53 cents a share on $298.2 million in revenue.
Still, as Tesla rolls out its highly-anticipated Model S, CEO Elon Musk indicated strong sales figures could push the company to a profit in coming quarters.
Demand is strong for the Model S, Musk said on the conference call.
For the full year, Tesla expects to deliver about 20,000 Model S units, with 4,500 of them in the first quarter. Tesla expects first-quarter gross margins to be in the midteens and rise toward its target of 25% in the second half of the year. "We really have very high confidence that we will have a profitable first-quarter," Musk said. Tesla shares ended the week down 8.0% at $36.11. -- Written by Antoine Gara in New York. Follow @AntoineGaraSelect the service that is right for you!
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