"forcibly imprisoning everybody in their homes against their constitutional rights", There are many small companies will not weather the storm, causing a lot of strife to a lot of people, 7:10 PM ET - TSLA stock drops to $871/share, Elon - it's high time we invested in infrastructure in this country, Not just a question of money, but a question of will, we need to think about the transportation of the future. Asif Khan posted a new article, Tesla (TSLA) Q1 2020 earnings results and conference call transcript, Conference call starting. Elon - The right move is to continue to advance, Clearly an uncertain future ahead, but the long-term prospects are really good, Both Zack and Elon highlight the companies focus on lowering costs. Tesla shareholders have received the electric car maker’s results positively. Tesla operating income for the quarter ending September 30, 2020 was $0.809B , a 209.96% increase year-over-year. Tesla annual net income for 2017 was $-1.962B, a 190.7% increase from 2016. Tesla finished Q1 2020 with a positive GAAP net income, driven by the profitability of the Model Y. Tesla has just reported results for the first quarter of 2020. Elon highlights touchless delivery and ease of purchasing a Tesla. Tesla ended the first quarter on a surprisingly optimistic note. Here are some highlights from the Tesla Q1 2020 earnings results conference call, which starts at 6:30 PM ET: At the time of this article, Asif A. Khan, his family members, and his company Virtue LLC had the following positions: Long Tesla via TSLA shares. Previously, Tesla said that it had delivered around 88,400 vehicles in the first quarter of 2020, including: ... according to Tesla's Q1 report. ... Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Although impacted by inefficiencies related to the temporary suspension of production and deliveries in many locations, our gross margin remained strong. His favorite PC game of all time is Duke Nukem 3D, and he is an unapologetic fan of most things Nintendo. Asif Khan is the CEO and majority shareholder of Shacknews. $331M GAAP net income; $874M non-GAAP net income (ex-SBC) in Q3 SBC expense increased to $543M (driven by 2018 CEO award milestones) Operations H I G H L I G H T S S U M M A R Y 3 SBC = stock-based compensation. The 100,000th Tesla Powerwall has also been installed, highlighting the potential of residential battery storage. 6:30 PM ET - call starts TSLA at $876.50/share. Elon Musk's electric car maker previously reported deliveries of … Model Y production lines in Shanghai and Berlin remain our most important near-term projects. While near-term cash flow guidance is currently on hold, we are continuing to significantly invest in our product roadmap and long-term capacity expansion plans as we have sufficient liquidity. While no groundbreaking activities have been done on the site, Tesla was nonetheless able to complete its ground-leveling operations. Tesla Q1 2020 Vehicle Production & Deliveries. The following are the key points in Tesla’s Q1 2020 Update Letter. At the same time, we are diligently managing working capital, reducing non-critical spend, and driving productivity improvements. We are coordinating closely with each supplier and associated government. Despite Q1 being a traditionally soft quarter as per automotive trends, Tesla was able to increase its cash by $1.8 billion. Apr 02,2020 << Back. Tesla ended the first quarter on a surprisingly optimistic note. Pushing the envelope on structural engineering, Positive effects in every way essentially, slightly better than the Model 3 despite being a bigger car that weighs more, We are confident that this product (Model Y) will be our best selling product ever, We are absolutely continuing our build out for the Model Y ramp, We are pedals to the metal on new products and expanding the company, We are looking forward to being a global manufacturer with a capacity of well over 1 million vehicles per year, Successful launch, ramp, and profitability of Model Y, Shanghai margins improving despite not running at full capacity, Long range of Model 3 to positively effect ASPs in China, Zack is stoked about that first ever Q1 profit, Model Y in Shanghai and Berlin are proceeding, 14,000 increase in vehicle inventory due to delivery issues, sales and delivery operations have paused, but still seeing orders, extended shutdown in Fremont will affect short-term performance, Working Capital management will be the most important lever in managing costs, Touts cost efficiencies over the past years. Tesla posted a profit in Q1 of 2020, and shares are jumping afterhours on the news.