The electric-car maker will be profitable and cash-flow positive in the third and fourth quarters, the chief executive officer predicted in an early Friday morning tweet.
That’s a rosy outlook relative to Wall Street expectations. Tesla is projected to burn through
Out of Line
Analysts expect Tesla to remain cash flow negative in the second half of 2018
Reasons for Musk’s optimism lie in his assessment of progress making more Model 3 sedans. The 46-year-old billionaire gave CBS This Morning a tour of Tesla’s assembly plant in Fremont, California, and said the company should be able to sustain producing 2,000 of the cars a week after resolving manufacturing issues that had been crimping output.
Tesla probably will boost Model 3 output by three- or four-fold in the second quarter, Musk told CBS. Tesla shares climbed as much as 3.3 percent to $303.75 before regular trading.
— With assistance by Brandon Kochkodin, Jaana Clayton, and Elizabeth Wasserman