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Title : Tesla: 2Q18 Earnings -- August 1, 2018
link : Tesla: 2Q18 Earnings -- August 1, 2018

Tesla: 2Q18 Earnings -- August 1, 2018

Shares:

• AAPL: pops 5% after earnings release
• TSLA: pops 5% after earnings release -- shorts will get squeezed; now at $315; could go to $325 once if shorts squeeze

Data points:

• 2.2 billion in cash -- more than expected
• $739 million: cash burn for the quarter; not sure if this is cash burn from operations only or if it's total cash burn -- see this post; since 2010, there have been only three quarters (maybe four quarters) with a cash burn worse than this just reported; that's 34 total quarters; only 3 (maybe 4) have had worse cash burns; see definition of "free cash flow" below;
• EPS loss: $3.06 vs forecast of $2.92
• revenue: $4 billion vs forecast of $3.92 (is it just me, or is a "round number of exactly $4 billion in revenue" a bit curious? Why not $4.01 or $3.98? Maybe the source rounded the number; need to see SEC filings;
• CAPEX guidance: maybe halving original plans; will cut back on more assembly lines; will make it up in existing assembly lines

See this site for definition of "free cash flow." 

Tesla deliveries for July, 2018, will be reported later this week.

Tesla bonds bounce back a little -- flirting with 90 cents on the dollar.

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