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Elon Musk shows a kinder side as he announces Tesla losses

August 1, 2018 nbcnews Leave a Comment

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE Famously brash Tesla CEO Elon Musk showed a seemingly kinder, gentler side during his earnings call late Wednesday, as he downplayed bigger losses for his electric car company. In May, the South African-born executive was roundly criticized following a similar call for dismissing several analysts’ questions as “boring.” That was followed up, over the past few months, by a series of aggressive and sometimes rude tweets that, at one point, attacked one of the rescuers who had pulled out students trapped in a Thai cave, calling the British diver a “pedo.” Tesla went $717.5 million into the red this past quarter, compared with a $336.4 million loss during the April-June quarter last year. On the upside, revenues surged by about 55 percent and the company saw a significant decline in its cash burn rate — a critical concern that had triggered fears among analysts and investors that the company would need to raise new capital. Add the fact that production levels appeared to be rising faster than promised and Tesla clearly played to the bulls, rather than those who’ve been shorting its stock. “I want to apologize for my bad manners on the last call,” Musk said on Wednesday. “I violated my own rules about bad manners. I was working a lot of hours and I was tired. Still, I want to apologize for my bad manners.” There’s no question Musk has been… [Read full story]




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