Tesla Motors CEO Elon Musk spoke in an interview with Bloomberg TV on Thursday where he discussed returning the loan to the U.S. Department of Energy 9 years ahead of schedule with interest. U.S. taxpayers have also made a $20 million profit off of Tesla.
Tesla Motors Posts
Tesla Motors Inc (NASDAQ:TSLA) has been having a very great month. The company raised $1 billion in new capital after issuing more shares. The company also reported their first profitable quarter and outsold their German luxury counterparts. On Monday May 13, the company’s stock was trading at about $80 per share and it closed on Friday at $91.50 with a market cap of about $10.57 billion. So what’s next on deck? Superchargers! On Tuesday May 14th, Musk wrote a tweet saying “supercharger announcement pushed to next week. Something else this week.”
Tesla Motors Inc (NASDAQ:TSLA) has raised $1 billion in new capital after selling more shares in the company. Tesla plans to use the new capital to pay off a $452.4 million federal loan. After that, the company will have around $678.8 million in cash and cash equivalents with long term debt of $600 million, according to a company filing.
Tesla Motors Inc (NASDAQ:TSLA) announced after the market closed on Wednesday that they will be raising capital by offering 2.7 million shares of common stock and $450 million in convertible notes. Tesla Motors CEO Elon Musk is investing $100 million into the company by buying $45 million worth of shares in the public offering (530,410 shares at Wednesday close of $84.84) and another $55 million directly from Tesla in a private placement due.
I believe that it is fair to say that Tesla is having a great month. Recently Tesla Motors Inc (NASDAQ:TSLA) reported their first profitable quarter in their 10 year history. Consumer Reports also reported the Model S as being the best car they’ve every tested. And now there is a report that the Model S had a better sales quarter than their gas-powered German rivals.
Tesla Motors Inc (NASDAQ:TSLA) has reported their first profitable quarter today in their 10 year history. The company’s sales grew to $562 million, up 83% from the previous quarter. The company lost $89.9 million last quarter, but this quarter was $11.2 million in profit. Under GAAP reporting rules, the company’s EPS were 0 cents excluding a one-time gain.