- REUTERS/Noah Berger
- Tesla on Wednesday reported a profitable quarter, marking its first time achieving profitability in consecutive quarters.
- On the earnings conference call, CEO Elon Musk said profitability should continue going forward.
- “I am optimistic about being profitable in Q1 and all quarters going forward,” he said.
After reporting his company’s first consecutive quarterly profits, Tesla CEO Elon Musk on Wednesday said the company would be able to sustain that profitability.
“I’m optimistic about being profitable in Q1,” Musk said on the company’s fourth-quarter earnings call. “Not by a lot, but I am optimistic about being profitable in Q1 and all quarters going forward.”
Tesla’s fourth-quarter profit was just its third quarterly profit in the company’s history.
Tesla said it delivered 63,359 Model 3 vehicles to customers in North America in the fourth quarter, and this month it began producing Model 3 vehicles for Europe and China. Both markets are considered important growth opportunities for the company. Additionally, Tesla said it delivered 27,607 Model S and Model X vehicles to customers in the fourth quarter.
- More from Tesla’s earnings:
- Tesla misses on earnings, says it will produce the Model 3 at ‘maximum production rates’
- Tesla says it has ‘sufficient cash’ to pay for its biggest debt payment ever that’s due in a month
- Tesla says it’s likely going to build its next car, the Model Y SUV, at the Gigafactory
- Tesla’s revenue has hit a critical milestone