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

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

Published by InvestorGreg Editorial Team

February 1st, 2019

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.

About the author

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

Recommended Financial Products

Fidelity

A household name, Fidelity has always been known to be a reputable investment firm. In our Fidelity Broker Review, we will examine some of the pros and cons of this broker as well as the fees charged by the broker.

Fidelity Review

Charles Schwab

Charles Schwab has been one of the leading full-service brokers for decades. They have more than $3 trillion in client assets and there are more than 10.5 million active brokerage accounts.

Charles Schwab Review

E*TRADE

ETrade is a broker that has long been at the forefront of online trading. They made their first online trade in 1982. Let’s take a look at the broker offering and see if they are right for you.

E*TRADE Review

Vanguard

Vanguard Brokerage, an excellent choice of broker for low cost longterm investment. The broker offers the lowest expense ratio for index funds and ETF's.

Vanguard Review

Full list of recommended

Suggested For You

Apple Is No Longer the Most Expensive Company in the World JAN 11, 2019 On August 1, 2018, Apple published a financial report that turned out to be better than analysts had predicted, and the Company had risen in price to a trillion dollars for the first time in its history.

JP Morgan Quarterly Profit Increased 1.7 Times in the 4th Quarter JAN 17, 2019 The net profit of JP Morgan Chase & Co., the largest US bank in terms of assets, grew 1.7 times (by 67%) in the 4th quarter of 2018 and amounted to $ 7.066 billion, or $ 1.98 per share, compared to $4.232 billion, or $1.07 per share, received during the same period of the previous year.

Hyundai Motor Net Profit for 2018 Decreased Almost 3 Times JAN 26, 2019 The net profit of Hyundai Motor, a South Korean automobile manufacturer, in 2018 decreased by 2.8 times compared with 2017 – to 1.65 trillion KRW (1.5 billion USD), follows from the Company’s report.

The British Pound Reached a Peak for 11 Weeks JAN 28, 2019 The British pound reached a peak of 11 weeks on Friday after The Sun reported that the Democratic Unionist Party of Northern Ireland decided to support the Brexit plan proposed by Theresa May next week.

Gold Continues to Fall in Price on the USD Strengthening FEB 11, 2019 The price of gold falls on Friday in the morning; this trend lasts for six trading sessions in a row against the background of the continuing the USD strengthening against most world currencies, according to the data of trades and analysts’ comments.