- Markets Insider
- Tesla will not be profitable in Q1 as it was in its previous two quarters, CEO Elon Musk said Thursday.
- The guidance comes the same afternoon as Tesla said the $35,000 version of its Model 3 was available for preorder.
- Shares sank as much as 4% in after-hours trading. Follow the stock in real time here.
Shares of Tesla sank as much as 4% in after-hours trading on Thursday, according to Markets Insider data, after CEO Elon Musk warned that the company might not be profitable in the first quarter of 2019.
“We do not expect to be profitable in Q1 but profitability in Q2 is likely,” Musk said on a conference call Thursday.
His comments came after two consecutive quarters of profitability, a first in the company’s history, and on the same day as Tesla announced the long-awaited $35,000 version of its Model 3 was finally available to order.