Published , by Donovan Erskine
Published , by Donovan Erskine
Tesla’s (TSLA) Q1 2024 earnings report featured a plethora of information about the EV company’s first quarter of the fiscal year. This included the fact that Tesla’s cash holdings dropped by $2.5 billion this past quarter compared to last year.
It’s in Tesla’s Q1 2024 earnings release that we see the difference in Tesla’s cash on hand compared to the previous financial year. Tesla explains the cash drop and assures it has sufficient liquidity in a brief statement in the report.
We have sufficient liquidity to fund our product roadmap, long-term capacity expansion plans and other expenses. Furthermore, we will manage the business such that we maintain a strong balance sheet during this uncertain period.
Tesla (TSLA) stock saw a sharp leap in value after the close of markets and has been trading high since the publishing of its earnings report. It’s been a busy day for Tesla news, and Shacknews has everything that you need to know.