Tesla Posts Surprise Q1 Profit-Earnings Live Blog

Nelson Wang

Tesla shares were up sharply in after-hours trading Wednesday after the company posted a surprise profit for the March quarter, despite coronavirus-related disruptions. 

The electric carmaker reported revenue of $5.99 billion for the quarter, slightly lower than a FactSet consensus of $6.1 billion, but non-GAAP earnings of $1.24 per share beat expectations for a loss of 28 cents per share. 

In a letter to shareholders, Tesla said that income and free cash flow guidance will likely be inaccurate owing to uncertainty, but that it will "revisit" its 2020 guidance in its Q2 update. Shares were rising more than 10% in after-hours trading.  

RealMoney columnist Jim Collins is analyzing the company's earnings report due out after the close.

Comments (96)
No. 1-50
JimCollins
JimCollins

Through. See what I mean?

JimCollins
JimCollins

Good night, all. Thanks for listening to my semi-coherent rambling and reading though my typos.

JimCollins
JimCollins

John Miles on vocals, Interesting choice. I missed the other guy JP used to play with.

JimCollins
JimCollins

JimCollins
JimCollins

So, I will leave it to Jimmy Page...

JimCollins
JimCollins

I don't see any reason for TSLA shares to advance any higher than the $870 AH price based on that call. Nor do I see a reason for them to decline. Nothing Happened!!!

JimCollins
JimCollins

Sorry, I can't type. Nor can I play guitar. So, I will let someone who can express my final sentiment.

JimCollins
JimCollins

I have no idea. Nobody asked that.

JimCollins
JimCollins

How many of those credits will be recognized in Q2. And in the future?

JimCollins
JimCollins

Full Stop.

JimCollins
JimCollins

They hit the # (breakeven, essentially) b/c they recognized $354mm in regulatory credits

JimCollins
JimCollins

Gene "spreadsheet" Munster (he forecast 57k deliveries) for 1Q, tried to lead Misk to autonomy by year-end and was rebuffed.

JimCollins
JimCollins

I know less about Tesla than I did when I hopped on the call.

JimCollins
JimCollins

That was an embarrasment

JimCollins
JimCollins

Doesn't that mean that sales are DECLINING?

JimCollins
JimCollins

Generation and Storage revenues were 293mm in Q1 vs 436,, in 4Q

JimCollins
JimCollins

Shanghai margin was below average

JimCollins
JimCollins

2021? some markets?

JimCollins
JimCollins

I have never heard Elon say that

JimCollins
JimCollins

Ahead in some areas and BEHIND in others in autonomy.

JimCollins
JimCollins

ZERO

JimCollins
JimCollins

so ZERO robotaxis on the road by 12/31/2020

JimCollins
JimCollins

And then regulators

JimCollins
JimCollins

functionality for FSD by end of year AND THEN reliability testing

JimCollins
JimCollins

Buffalo is not as sanguine on the quarter as Wall Street is

JimCollins
JimCollins

This is A TECH COMPANY

JimCollins
JimCollins

"What the fuck" "goddamn" and a break while Wayne canoodles with Cassandra

JimCollins
JimCollins

This is like an episode of Wayne's World

JimCollins
JimCollins

Audio just cut out

JimCollins
JimCollins

Model Y starts at high-spec. They all do.

JimCollins
JimCollins

ASK A QUESTION WITH A NUMBER IN IT

JimCollins
JimCollins

and "goddamn"

JimCollins
JimCollins

But we do have some embarrassing airports. NY LGA for sure

JimCollins
JimCollins

BY any measure

JimCollins
JimCollins

China's infrastructure is MUCH worse than the US'

JimCollins
JimCollins

Ask, about THE COMPANY, Adam. Pretend to do your job

JimCollins
JimCollins

Go, Elon!

JimCollins
JimCollins

I am certain he did

JimCollins
JimCollins

Did he just say "What the fuck"

JimCollins
JimCollins

slightly

JimCollins
JimCollins

Door open slightly ajar for another stock offering there

JimCollins
JimCollins

Finally, the analysts

JimCollins
JimCollins

Genreation and Storage revs fell 10% y/y in Q1

JimCollins
JimCollins

"tremendous demand" for stationary storage. ??

JimCollins
JimCollins

He pushed solar roof back a full year there. No one cares, but that's now a 2021 ramp-up on installs.

JimCollins
JimCollins

So, that benefits ARPU in any given quarter

JimCollins
JimCollins

FSD revs recognized about 50% upfront 50% over time accdg. To CFO Kirkhorn

JimCollins
JimCollins

Did I miss anything?

JimCollins
JimCollins

I'm back!


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