Boston, MA 05/09/2014 (wallstreetpr) – Tesla Motors Inc (NASDAQ:TSLA) has become the talk of the town, soon after there was a major slide yesterday in its shares, after the Quarterly report was out!
R&D expenses forged the loss in Q1
Tesla reported a loss of a whopping $49.8 million at the end of Q1, primarily because R&D costs surged phenomenally to $81.5 million, ahead of the launch of innovative sport utility vehicles in the forthcoming days. Revenues amassed is $620.5 million, less than Q4, 2013 by 1%, though up by 10% from 2012-13. Tesla reported a profit of 12 cents per share on revenues worth $713 million.
Into the Future!
Elon Musk, the CEO of Tesla Motors Inc (NASDAQ:TSLA) has sent a letter to the investors stating the 7,353 Model-S vehicles were produced for global delivery in the first quarter; however, it delivered 6,457 cars in Q1. 35,000 Model S sedans shall is expected to be delivered in 2014. Mr. Musk claimed that Tesla Motors plans to invest in capital expenditures this year. The expected figure of investment stands between $650 and $850 (in millions).
Investments are most likely in a battery plant, Gigafactory, the CEO retorted! Tesla also conveyed that the production of Model X shall ramp up and volume deliveries to consumers shall begin from Spring, 2015! The CEO further announced that the momentum stocks have taken noteworthy hit lately, but he was happy to see that the things are going as conceived and corroborated that Q1 was a fairly good quarter!
The After Hours!
The Q1 results of the luxury electric car manufacturers were shared publicly on Wednesday, May 7 2014. Soon after, the shares dipped by a margin of 7% and was floating in the range of $194-$200. However, Tesla Motors-NASDAQ stock covered some ground and closed yesterday at $201.35 (down by 5.93, that is 2.86 percent)!
Wait till it’s near $150!
Tesla Motors Inc (NASDAQ:TSLA) is expected to maintain the sturdy production rate and is expected to expand production, whilst cutting down upon the battery costs to generate greater revenue. Investors can wait until the stock values between $140-$150, in order to buy shares.
