Elon Musk: “Tesla will be profitable & cash flow+ in Q3 and Q4”
In a recent Twitter post, electric vehicle manufacturer Tesla’s CEO Elon Musk has announced that he is confident that the company will turn a profit in the in the second half of 2018.
According to Musk’s Twitter post, Tesla is expected to become profitable, and have a positive cash flow, during the last six-month period of the ongoing year.
Musk’s statement is an evident reiteration of Tesla’s earlier-this-month assertion on its 2018 first-quarter production and delivery report that the company would not require an equity or debt raise this year. This assertion by Tesla had come as a surprise to several industry analysts.
The Economist, in particular, had said in a recent report that, as per Jefferies bank estimates, Tesla will need to raise an additional capital in the range of $2.5 to $3 billion in 2018. The publication has also added that a “cash crunch” would seemingly be unavoidable by Tesla particularly because the company would have to deal with mounting interest rates, unstable share price, and persistent inability to achieve its production targets.
Retorting to the publication’s report, Musk said in his recent tweet, “The Economist used to be boring, but smart with a wicked dry wit. Now it’s just boring (sigh);” and also announced alongside that “Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money.”
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