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Tesla Made a Loss of a Billion Dollars and Dismissed its CFO

Tesla published a report on the results of the 4th quarter and the whole 2018. During the quarter, the company earned a profit of $139 million and unprecedented revenue of $7.2 billion.

Such revenues are almost double the results of the 4th quarter of the previous year. Revenues reached $21.4 billion for the year. However, after calculating expenses, this resulted in a loss of $976 million. Yes, almost a billion dollars in losses. But this is a positive trend for Tesla, as the loss for 2017 amounted to $2.2 billion.

At the same time, Elon Musk, the CEO of Tesla, announced that Deepak Ahuja, the CFO of Tesla, will leave the Company in the next few months. He will be replaced by Zach Kirkhorn, who is holding a position of the Financial Vice President now.

Since the beginning of 2018, Tesla has lost almost fifty chief executives.

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InvestorGreg Editorial Team

InvestorGreg Editorial Team

The InvestorGreg Editorial Team is a group of financial writers and analysts who cover the worlds of finance and investment. Read more