Musk: Tesla will be profitable before year's endby Byron Hurd
Tesla CEO says there's "no need" to raise cash.
Tesla CEO Elon Musk tweeted early Friday that the company will be profitable and cash-flow-positive in the third and fourth quarters of 2018.
"Tesla will be profitable & cash flow+ in Q3 & Q4," Musk tweeted, "so obv no need to raise money."
Musk was responding to an article in The Economist which claimed that Tesla would need to raise between $2.5 and 3 billion in 2018 in order to stay afloat.
The Economist used to be boring, but smart with a wicked dry wit. Now it's just boring (sigh). Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money.— Elon Musk (@elonmusk) April 13, 2018
The article referenced Musk's April Fool's bankruptcy joke, calling it "[...] uncomfortably close to the truth."