Elon Musk Reminisces How Tesla Achieved Its First Quarterly Profit 11 Years Ago: '...A Case Of Deliver Or Die'
Portfolio Pulse from Anan Ashraf
Elon Musk reflected on Tesla's first quarterly profit in Q1 2013, highlighting the company's dire financial situation at the time and the collective effort to deliver cars to avoid bankruptcy. Despite the struggle, Tesla managed to deliver 4,750 cars, turning a profit of $11 million and marking the beginning of its viability as a company. Fast forward to Q1 2024, Tesla reported a revenue drop of 9% due to lower deliveries and a price war, yet still achieved a net income of $1.13 billion.
April 29, 2024 | 11:09 am
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NEUTRAL IMPACT
Tesla's reflection on its first quarterly profit in Q1 2013 and its recent Q1 2024 performance, with a 9% revenue drop but a net income of $1.13 billion, showcases the company's resilience and growth over the years.
The article primarily focuses on Tesla's historical and recent financial performance. The mention of its first quarterly profit in 2013 and the recent financial results for Q1 2024, despite a revenue drop, highlights the company's ability to remain profitable over time. This historical context and current financial health are crucial for investors, indicating resilience in the face of challenges. However, the short-term impact on the stock price is neutral, as the information is reflective and does not introduce new, market-moving data.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100