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Wrong. They made $874 million in profits out of which $543 went into stock based compensation, a non-cash expense. This happened because Musk became eligible fo
by DarmokJalad1701 6y ago
Wrong. They made $874 million in profits out of which $543 went into stock based compensation, a non-cash expense. This happened because Musk became eligible for two tranches of compensation based on market cap + profitability.
> meaning their core business still loses money
Wrong. Even a cursory look at their earnings report would have told you so. They made 23% gross margin on automotive revenue excluding credits. How is making 23% gross margin "losing money"? The typical automaker makes single digit gross margins on their products.
And they did all this while building out factories on three continents.
- zhaphod 6y agoThanks for this. I don't know why people make easily disprovable statements. Do they think their ability to mislead is greater than peoples ability to read financial statements? Furtermore, CNBC brought on the "biggest" bear Gordon Johnson. He used the same technique to mislead. He used Tesla's update that they are now at 840K installed capacity, to claim that they have always been at that capacity and since guidance is to hit 500K, there is a drop in demand. This was a galling attempt to mislead and to prop up his own analysis.