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Home / Business / Tesla CFO Zach Kirkhorn says profitability is not expected until the third quarter of 2019

Tesla CFO Zach Kirkhorn says profitability is not expected until the third quarter of 2019



Tesla Chief Financial Officer Zach Kirkhorn scored another quarter of earnings earnings for the company's first quarter earnings message on Wednesday.

A senior technology analyst at Sanford C. Bernstein, Toni Sacconaghi, asked Musk if Tesla intends to raise capital to support these and other goals.

"Given that you've used up about $ 2 billion in cash in one quarter, you may not be trying to go through a very thin area while trying to grow fast and self-finance what, Why not think of it as something that Tesla should or should not do? "Musk replied," I do not think raising capital should be a substitute for more effective business management. "He added He adds that he does not believe that capital has limited Tesla's growth until it has finally come to the realization that the idea is beneficial.

"Tesla today is a far more efficient organization than we were a year ago, has made dramatic improvements across the board, and I think the idea of ​​raising capital is deserved at this point," Musk said.

Adam Jonas of Morgan Stanley asked Musk how important it was for Tesla to remain a publicly traded company Given all the alternative sources of capital it could tap into outside public markets?

Musk said, "It might surprise you, but I would prefer to be private, but unfortunately I think this ship sailed."

Musk added, "The feeling of being on the stock market feels like the stock price is set in a manic-depressive way … It's sometimes a distraction, but I'm not sure what I am to do something about it. "

Musk had to pay the SEC a $ 20 million fine last year after acting spontaneously, sly tweeted that he considered taking Tesla for $ 420 a share. Tesla's shares shot up after this tweet and the financial regulators stopped trading. Musk and the SEC are still involved in negotiations on how the Tesla CEO can use social media to potentially disseminate important business information about Tesla.


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