Shares in Tesla, which is based in Palo Alto, California, fell more than four percent in after-hours trading after the earnings report.
Tesla tore through $745.3 million in cash in the quarter, due largely to the slow production ramp-up of the Model 3 mass-market electric sedan.
During the call Mr Musk acknowledged that the firm had over-automated the Model 3 assembly-line, which has resulted in production delays, but it is still unclear how long and costly it will be to unwind this mistake. But Musk says the tech will be fully developed "by end of next year".
Tesla stocks dropped Wednesday night after CEO Elon Musk engaged in a highly unusual and combative earnings call that included criticizing reporters for asking "boneheaded" questions about problems plaguing the electric automaker. "Next, next, next. Bonehead questions are not cool". "I think that if people are concerned about volatility they should not buy our stock", Musk said on a conference call with investors, according to TheStreet. Sorry. These questions are so dry.
After Musk said it looked like Tesla would turn a profit later this year, he got testy with analysts as they brought up questions about a possible cash crunch.
In case his frustration with Wall Street was not already evident, Musk then invited YouTube host and Tesla enthusiast Gali Russell to take the floor with crowdsourced questions on behalf of retail investors.
Tesla is also implementing an initiative to change the quarterly production pattern of its two flagship vehicles - the Model S and Model X - across various worldwide regions. "We will not be starting production of Model Y next year".
The proposal came ahead of the company's annual meeting that is scheduled for June 5.
Tesla's capital expenditures declined in the quarter and the company cut its spending forecasts for 2018, saying it would spend less than $3 billion (roughly Rs. 20,000 crores). During the weeks preceding the shutdown, estimates from Bloomberg'sModel 3 production tracker showed that Tesla was only producing vehicles in the ~1,000 range.
Christian Stadler, of Warwick Business School, told Express.co.uk that, "if Tesla carries on the way it is going it will not survive, I think investors are right to be anxious".
Free cash flow, a key metric of financial health, widened to negative $1 billion (roughly Rs. 6,700 crores) in the first quarter from negative $277 million in the fourth quarter, excluding costs of systems for its solar business. The cash burn could put pressure on the company to borrow more or sell additional shares to raise more cash.
Pant added 88 runs for the fifth wicket with Vijay Shankar, who played a very good supporting role with an unbeaten 54. With a 13-run victory over Delhi Daredevils (DD) on Monday, they went back to the No 1 spot in the points table.
The Samsung Galaxy A6 is expected to feature a 5.6-inch HD+ Super AMOLED display alongside an Infinity 2.5D curved glass display. While the details about the handset itself remained mysterious, the model numbers were revealed in the listing.
Consumer prices, as measured by the personal consumption expenditures price index, jumped 2.0 percent year-on-year last month. Personal incomes rose 0.3 percent in March, while wages and salaries advanced 0.2 percent - the smallest gain since October.
With three games to go, and a meeting against the Reds at Stamford Bridge next week, Chelsea are still very much in the race. He said: "The advantage is for them because it's not up to us". "I would prefer to be in their position rather than ours.
Duffy is 0-4 with a 6.75 ERA in six games lifetime against the Red Sox, but is 0-3 with a 7.97 ERA in four games at Fenway. Among the many things that have gone right for Boston this season, the Red Sox defense has been near the top of the list.
Her world was shattered in 2013 when her Glee co-star was found dead of a drug overdose in a Vancouver hotel room. Lea previously dated iZombie star Robert Buckley for several months before splitting around a year ago.
Through the first two rounds of the NFL Draft , the Cowboys have drafted for need and not necessarily the "best player available". He started only five games last season because of a left knee injury, and missed the bowl game to prepare for the draft.
Bayern boss Jupp Heynckes has defended top-scorer Robert Lewandowski following his lack of Champions League goals. Isco picked up a shoulder injury in the first leg and has not been named in the squad for Tuesday's return leg.
Antofagasta has a fifty-two week low of GBX 11.12 ($0.16) and a fifty-two week high of GBX 1,071 ($14.94). The stock rating was maintained by Macquarie Research with "Underperform" on Thursday, November 23.
Armenian opposition leader fails to win selection as PM
Sargsyan was appointed PM by the parliament on April 17 but was forced to resign under public pressure less than a week later. On Sunday, RPA faction head Vahram Bagdasaryan said that the party would not impede Pashinyan's election.
Oppo announces online-only sub-brand Realme in India
To add to the conjecture is the fact that, Oppo , like Xiaomi , may also start assembling their smartphones locally in India. They are looking for an affordable price option without compromising on the built-quality and the device performance.
Irish border a threat to Brexit negotiations
A guide pointed out areas of the Bogside where the Bloody Sunday victims were killed in January 1972. Michel Barnier was greeted at the Guildhall in Derry by Sinn Féin's Martina Anderson.
YouTube Kids Bolsters Parental Controls
The app already has some built-in tools for parents, including giving them the ability to control their child's contact list. Messenger Kids application is absolutely for free and you can download the app for both, iOS and Android platform for free.
ABBA To Release First New Music Since 1982
The news was announced in an Instagram statement from Benny Andersson , Bjorn Ulvaeus , Anni-Frid Lyngstad and Agnetha Faltskog . Their statement said: 'The decision to go ahead with the exciting Abba avatar tour project had an unexpected effect .
Shaquem Griffin drafted by Seahawks
He also bench pressed 225 pounds (100 kilograms) 20 times, using a prosthetic hand to complete the exercise. Griffin was drafted by the Seattle Seahawks in the fifth round Saturday.