Most investors in Tesla consider reports from this quarter very crucial since the company has recently recorded a lot of expenses, regardless of CEO Elon Musk's continued pontificate over the company's long-term goals.
The call then moved onto questions from retail investors on YouTube.
Musk is known for his quirks, but investors appeared to be put off. Tesla shares were down almost 5% during after-hours trading, despite posting better-than-expected earnings results.
"It looks like Elon's all-nighters at the factory are paying off, because Tesla seems to be finally getting some momentum", Jessica Caldwell, executive director of industry analysis at Edmunds, said in a statement Wednesday.
Mr Musk, who is also CEO of private aerospace manufacturer SpaceX, said: "Excuse me, excuse me". They had risen after the company reported a loss of $567.9 million, in line with analyst forecasts though still higher than the previous quarter and more than the same time past year.
Tesla shareholder urges to boot Elon Musk as board chairman Elon Musk, the head of USA electric vehicle producer Tesla, may lose his position as the board's chairman as one of the firm's stakeholders submitted a proposal urging the board to hire an independent director. His slipshod discussion with reporter comes as Wall Street analysts grow more and more impatient with Tesla's inability to meet deadlines or turn a profit.
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He was on a conference call responding to questions about Tesla's first quarter results which showed the company made a record $710m (£523m) net loss and tore through $745.4m (£549m) in cash in the first quarter of the year.
Musk's ability to run Tesla is crucial as the company strives to efficiently and profitably build its first vehicle meant to be produced at high volume, the Model 3.
"He reiterated that he's not going to raise cash".
Automotive revenue rose only 1 percent from the prior quarter to $2.74 billion (roughly Rs. 18,300 crores). Analysts polled by FactSet expected an adjusted loss of $3.54 per share.
Moody's Investor Service downgraded Tesla's debt into junk territory back in March, warning at the time that Tesla didn't have cash to cover $3.7 billion for normal operations, capital expenses and debt that would come due early next year.
We'll update this page when we know more about the Tesla Model Y. It said net reservations for the Model 3, including configured orders not yet delivered, exceeded 450,000 at the end of the first quarter. However, cash burn was slower than expected. The Tesla boss also conceded he still hadn't decided where production of the vehicle would begin, again disputing Reuters claims that it would be at the company's plant in Fremont, California.