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Home / Business / Tesla CFO Zach Kirkhorn says profitability is not likely to be in Q3 2019

Tesla CFO Zach Kirkhorn says profitability is not likely to be in Q3 2019



Tesla CFO Zach Kirkhorn braced investors for a quarter of a red during the company's first quarter earnings call Wednesday.

A senior technological analyst at Sanford C. Bernstein, Toni Sacconaghi, asked Musk if Tesla plans to raise capital to support These and other aspirations.

"Given that you spent about $ 2 billion in cash in a quarter, you can't try to go through a very thin space while trying to grow fast and be self-financing, as quite frankly, be unrealistic? Why not raise capital? Why do you see it as something Tesla shouldn't or wouldn't do? "

Musk replied," I don't think increasing capital should be a substitute for making the company more effective. "He added that he did not believe that capital had been a limitation on Tesla's growth so far before finally acknowledging that There may be merit to the idea.

"Tesla today is a far more efficient operating organization than it was a year ago, we have made dramatic improvements across the board, and so I think it is merit on the idea of ​​raising capital at this point," Musk.

Adam Jonas asked Musk, how important it is for Tesla to remain a listed company, given all the options Sources of capital that could come across public markets?

Musk said, "It may surprise you, but I prefer that we were private. Unfortunately, I think the ship has sailed. "

Musk added:" Being public feels that the price of the stock is put in the form of a manic depressive way …. It's a bit of a distraction at times, but I'm not sure what to do with the. "

Musk had to pay $ 20 million to the SEC last year after he spontaneously tweeted that he was considering taking Tesla privately for $ 420 per share. Tesla shares shot up Musk and SEC is still locked in talks on how Tesla CEO can use social media to convey potentially important business information about Tesla.


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