Tesla Reports Mixed Q1 Results, Vehicle Production Up 64% YoY

Tesla Inc TSLA reported mixed results following its first quarter earnings release after the close Wednesday.

• Q1 Adj. EPS $(1.33), missing estimates by $0.52
• Q1 Sales $2.7B, beating estimates by $100 million• Tesla Sees Q2 GAAP, Adj. Opex Flat to up slightly on QoQ basis
• Model 3 Is On Track For Initial Production In July
• Had $4 billion in cash on hand heading in Q2
• Vehicle Production In Q1 was up 64% YoY to 25,051 Units

At last check, shares of Tesla were nearly unchanged in volatile after-hours trading. The stock closed at $310.77.