Elon Musk says Tesla will be profitable for 'all quarters going forward'
- Tesla reported its second profitable quarter in a row on Wednesday.
- On the earnings conference call, CEO Elon Musk said that profitability should continue going forward.
- "I am optimistic about being profitable in Q1 and all quarters going forward," he said.
After reporting its first-ever consecutive quarterly profits, Tesla CEO Elon Musk says the company will be able to sustain that profitability.
"I'm optimistic about being profitable in Q1," Musk said on the company's fourth-quarter earnings call on Wednesday. "Not by a lot, but I am optimistic about being profitable in Q1 and all quarters going forward."
Tesla's fourth-quarter profit was its third ever in the company's history, and the first time two profitable quarters have been reported in succession.
Tesla said it delivered 63,359 Model 3 vehicles to customers in North America in the fourth quarter, and this month it began producing Model 3 vehicles for Europe and China. Both markets are considered important growth opportunities for the company. Additionally, Tesla said it delivered 27,607 Model S and Model X vehicles to customers in the fourth quarter.
- More from Tesla's earnings:
- Tesla misses on earnings, says it will produce the Model 3 at 'maximum production rates'
- Tesla says it has 'sufficient cash' to pay for its biggest debt payment ever that's due in a month
- Tesla says it's likely going to build its next car, the Model Y SUV, at the Gigafactory
- Tesla's revenue has hit a critical milestone