Tesla Reported Earnings and Says It Will Be Better About Meeting Production Deadlines
Tesla reported earnings after the bell today. The company beat on EPS with $-3.04 versus estimates of $-3.12 and met on revenue with $3.29 billion.
The company focused on Model 3 production numbers. Tesla said it is expected to produce 2,500 cars per week by the end of the first quarter and 5,000 Model 3 cars a week by the end of the second quarter.
Cash burn did slow for the company in the latest quarter. But Tesla also reported that it would spend more money in 2018 than it did in 2017.
Wall Street's major stock indexes closed mixed Tuesday, as more big companies delivered their financial results for the last three months of 2022 amid lingering concerns about a potential recession.
Inflation hit a 40-year high last year, and while inflation has slowed and even declined in recent months, consumers are still shelling out more than usual for their groceries.
3M, maker of Post-it notes, industrial coatings and ceramics, is cutting about 2,500 manufacturing jobs worldwide as it looks to align itself with adjusted production volumes.
When cannabis retail store Smacked Village opens its doors to the public Tuesday morning, it will be the Empire State’s second, licensed, adult-use cannabis retail store. But it also claims a lot of firsts.
