FX.co ★ Elon Musk predicts profit at Tesla after biggest quarterly loss ever

After the successful launch of the first in the history heavy rocket by Elon Musk's team, the US mass media tried to understate the degree of space breakthrough, as it was made by a private company. However, when journalists failed this task, they returned to the basic strategies. Namely, they focused on Tesla's losses in the fourth quarter of the last year.

However, Musk still managed to impress the world with numbers. Tesla lost $675.35 million during the last three month of 2017. Many patriotic American citizens are discouraged that the company's financial report has not ended there. Despite Tesla's losses, its quarterly revenue in annual terms increased by 44.3% to $3.29 billion. Moreover, company’s CEO Elon Musk gave optimistic forecasts for the current year: "2018’s likely to be a very big year for us". Earlier, in his letter to shareholders, he described 2018 as "transformative year." When Musk uses such phrases, they are perceived quite differently, as these are not election pledges, not statements of government officials, nor President’s live phone-in shows. When such statements are made by the "chief engineer" of Earth, investors may rest assured.

"At some point in 2018, we expect to begin generating positive quarterly income on a sustained basis, operating 5,000 per week of Model 3 production and I’m optimistic that we will be GAAP profitable," Musk promised. In addition, Tesla also forecasts that in 2018 the revenue growth rate will exceed that of 2017, when sales grew by more than 52%.