Second-quarter results forecast less than expected Tesla plunged nearly 12%

Great Wisdom aastocks News agency May 9, the United States electric vehicle giant Tesla (Tesla Motors Inc,nasdaq:tsla) plunged nearly 12% in Thursday, ran the market. The company's first-quarter results were better than market expectations, but its second-quarter outlook disappointed the market, depressing its share price. At the end of the closing, Tesla's shares fell 11.3% per cent to $178.59. Its share price has fallen by 32.61% compared with its all-time high of February 26 this year (265 US dollars). On the news side, the results showed that excluding certain one-off items (not in accordance with US general accounting standards), Tesla's first-quarter adjusted revenue of 713 million U.S. dollars, an increase of 26.9% per cent year-on-year, is better than market expectations; Tesla's first-quarter net profit was $17 million, up from $11 million a year earlier, with 12 cents per share, flat over last year, above the market's previous forecast of 6 dollars, and a 25.4% per cent increase from the adjusted gross margin of the US general accounting standards. The first-quarter Model S electric cars produced 7,535 vehicles, up from 6,587 in the quarter. Also higher than the company had expected 7,400 cars, Model s electric car sales of 6,457 vehicles, higher than the company previously expected 6,400, but less than 6,892 in the quarter. Tesla predicts that the sales of Model S electric cars will be around 7,500 in the second quarter of the 2014 fiscal year, with a full-year target of more than 35,000 cars sold. Tesla Motors plans to produce 8,500 to 9,000 Model S electric cars in the second quarter, up 13% to 19% from the first quarter. Gross margins, which were not calculated in the second quarter of the fiscal year in 2014, were expected to grow slightly on a month-on-month basis, and the gross margin was expected to rise to 28% per cent by the quarter. Ellon Masc, founder of Tesla, said the company had signed a letter of intent to build a super battery factory with Panasonic, the fastest-growing project to start next month, and become the world's largest battery factory. Lache, analyst at Deutsche Bank, said that Tesla's first-quarter performance was encouraging but was worried about valuations, so he rated it "neutral" and set its target price at $220 trillion. Compared with the current share price, there are nearly 24% increase in space.