Tesla’s profit run not derailed by coronavirus, full-year forecast scrapped [Toronto Globe and Mail (Ontario, Canada)]
Tesla, Inc. (TSLA)
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Source: Toronto Globe and Mail
Tesla’s profit run not derailed by coronavirus, full-year forecast scrapped A view of Tesla Inc's vehicle factory in Fremont, Calif., on March 18, 2020. Shannon Stapleton/Reuters A view of Tesla Inc's vehicle factory in Fremont, Calif., on March 18, 2020. Tesla Inc. on Wednesday posted its third quarterly profit in a row, but said the novel coronavirus was hurting deliveries and lockdown restrictions made it impossible for the electric-car maker to provide guidance for the full year. Tesla said it could not predict how quickly vehicle manufacturing and global supply chains will normalize, saying it would revisit full-year guidance for net income and cash flow when it reports current-quarter results in three months. Shares of the company were up more than 8 per cent at US$870 in extended trading. The COVID-19 pandemic caused by the new coronavirus has disrupted demand for cars, with automakers including Tesla forced to furlough workers, and fuelled uncertainty over when and how supp
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