Elon Musk and Tesla shares take a weird turn

Elon Musk and Tesla
Tesla CEO Elon Musk presides over the handover of Model 3 cars in August 2017. (Tesla via YouTube)

Tesla’s share price took a weird turn today after the company reported its first-quarter financial results and billionaire CEO Elon Musk dissed analysts’ concerns about the Tesla Model 3 mass-market electric car.

The raw numbers reflected Tesla’s efforts to ramp up production over the quarter: Net loss widened to a record $784.6 million for the quarter, but revenue rose to $3.41 billion, outdoing analysts’ estimates.

The key questions have to do with the Model 3, which Musk is counting on to bring the company to profitability by the latter half of this year.

“It’s high time we became profitable,” he said during today’s teleconference for analysts. “The reality is, you’re not a real company until you are.”

Get the full story on GeekWire.

By Alan Boyle

Mastermind of Cosmic Log, contributing editor at GeekWire, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.

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