Dana Hull, Bloomberg News BC-Muskâs-No-Nonsense-Finance-Chief-Tallies-Profit-Surge-at-Tesla , Dana Hull
(Bloomberg) Tesla Inc. is widely expected to report its sixth consecutive quarterly profit Wednesday and potentially its first $1-billion quarter. That follows a remarkable year when Teslaâs stock split and skyrocketed, the company joined the S&P 500 Index and it sold almost half a million cars.
Two years ago, the worldâs leading electric carmaker was going through a rough patch. Elon Musk, Teslaâs chief executive officer, informed employees in a January 2019 open letter that the company had to reduce headcount by 7% and boost Model 3 production rates to survive. Later that month, the CEO told analysts Tesla needed to cut costs and its vehicle prices to avoid bankruptcy.
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