There were some awkward surprises in Tesla's last financial filings lopezlinette
Tesla's recently released financials paint an even worse picture of the company's finances than CEO Elon Musk did last week.
Then on Monday, Tesla released all of its numbers, and there were a few nasty surprises that it had neglected to mention the week before. For one thing, the company made $216 million selling auto-energy credits, without which it would have experienced a quarterly loss of around $900 million. Tesla maintained that next quarter it's going to blow it out of the park and deliver 90,000 to 100,000 cars . So some bulls, like Jed Dorsheimer at Canaccord Genuity, say that should"quell demand fears."
Tesla said in its filing that it"may choose to seek alternative financing sources" for its operations. That makes sense. The company is now sitting on $2.2 billion of cash, and has guided to spending about the same amount in capital expenditures for the year. It's bleeding money and it wants to finance the build out of its Shanghai facility, and the production of its Model Y and Semi next year.
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