Page 100 - Elon Musk

Tesla says its 4Q profit rose 59% to $3.69 bn, expects strong margins

Tesla on Wednesday posted record net income in the fourth quarter of last year, and the company predicted that additional software-related profits will keep its margins higher than any other automaker. The Austin, Texas, maker of electric vehicles and solar panels said it made $3.69 billion from October through December, or an adjusted $1.19 per share. That beat estimates of $1.13 that had been reduced by analysts, according to FactSet. The company's profit was 59% more than the same period a year ago. Revenue for the quarter was $24.32 billion, which fell short of the $24.67 billion that analysts expected. On Jan. 13, the company cut prices in the U.S. and China, its two biggest markets, by up to 20% on some models, leading many analysts to believe that demand had fallen due to high prices and rising interest rates. Tesla said in its investor letter Wednesday that it would produce about 1.8 million vehicles this year, ahead of a predicted 50% annual growth rate. But the outlook

Elon Musk's 'impulsive' use of Twitter seizes spotlight in Tesla trial

Tesla CEO Elon Musk's impulsive and sometimes inflammatory usage of Twitter took centre stage Wednesday in a trial focused on whether he misled investors with his 2018 tweets indicating he had lined up financing to take the electric automaker private, a proposal that rapidly unravelled. The spotlight on Musk's tweeting habits came a day after the 51-year-old billionaire completed three days of defiant testimony during which he told the nine-member jury why he believed he could have pulled off a Tesla buyout that could have cost anywhere from $30 billion to more than $70 billion at the time. Musk, who now owns the Twitter service that's central to the trial about his management of Tesla, raised the prospect of a buyout in an Aug. 7, 2018 tweet stating he had the funding secured for the deal. Musk followed up a few hours later with another tweet suggesting a deal was imminent. After it became apparent that the money wasn't in place to take Tesla private, Musk and the company reached

New Twitter whistleblower says privacy lapses continued into Musk era

"Twitter does not have the capability to log which, if any, engineers use or abuse GodMode"

Musk defiant, defends himself in Tesla buyout tweet trial in federal court

Elon Musk returned to federal court to defend himself against a class-action lawsuit that alleges he misled Tesla shareholders with a tweet about an aborted buyout that the billionaire defiantly insisted Tuesday he could have pulled off, had he wanted. Musk spent roughly three more hours on the stand during his third day of testimony before being excused by U.S. District Judge Edward Chen. It's unlikely Musk, 51, will be summoned back to the witness stand during a civil trial expected to be turned over to a nine-person jury in early February. Musk, who also owns Twitter while continuing to run Tesla, spent much of Tuesday depicting himself, while being questioned by his own attorney, Alex Spiro, as an impeccably trustworthy business leader capable of raising as much money as he needs to pursue his visions. He testily sparred with a shareholder lawyer, Nicholas Porritt, who had raised his ire earlier in the trial. At two separate junctures Tuesday under Spiro's gentle prodding, Musk

Twitter faces more lawsuits over unpaid rent for US HQ, UK office

More landlords are taking Twitter to court over unpaid rent at the social media company's headquarters in San Francisco and its British offices the latest legal headaches for billionaire owner Elon Musk, who has been trying to slash expenses. Twitter is facing a lawsuit over allegations it failed to pay rent for its head office, according to California court documents. The owner of its premises in central London, meanwhile, said it's taking the company to court over rental debt. Musk is making extreme cost cuts after his USD 44 billion deal last year to buy Twitter left the company on the hook for about USD 1 billion a year in interest payments. Twitter has already been taken to court this month for falling behind on rent at another San Francisco office. It comes as Musk has been testifying in recent days in a separate class-action lawsuit from Tesla investors alleging his 2017 tweet misled them about funding to take the electric carmaker private. The Tesla CEO's cost-cutting ...

Musk's deep space rocket Starship completes flight-like dress rehearsal

The space company conducted a "wet dress rehearsal" with the 395-foot-tall (120 metres) Starship at its Starbase facility in South Texas, the US

Twitter sued over failure to pay Dec rent on San Francisco headquarters

The social media company failed to pay the $3.36 million December rent for its offices at 1355 Market Street and the $3.42 million for January rent

Musk defends his tweets about taking Tesla private in San Francisco court

Elon Musk returned to federal court Monday in San Francisco, testifying that he believed he had locked up financial backing to take Tesla private during 2018 meetings with representatives from Saudi Arabia's Public Investment Fund although no specific funding amount or price was discussed. The billionaire Tesla CEO and Twitter owner is facing a class action lawsuit filed by Tesla investors alleging he misled them with a tweet saying funding was secured to take his electric car company private for $420 per share. But the deal never came close to happening, and the tweet resulted in a $40 million settlement with securities regulators. The trial hinges on the question of whether a pair of tweets that Musk posted on Aug. 7, 2018, damaged Tesla shareholders during a 10-day period leading up to Musk's admission that the buyout he had envisioned wasn't going to happen. Speaking in a soft halting tone, Musk said Monday he had trouble sleeping last night and unfortunately I am not at my .

Twitter plans to roll out zero ads subscription model, says Elon Musk

'Ads are too frequent on Twitter and too big. Taking steps to address both in coming weeks'

New update in Twitter will stop forcing 'For You' timeline on users: Musk

Twitter CEO Elon Musk on Saturday announced that the upcoming update of the micro-blogging platform will make it less mandatory for users to use the "For You" algorithmic timeline

Twitter's bird statue sells for $100,000 at auction, says report

Microblogging platform prices Blue for Android at $11 per month, launches annual web plan

Twitter Blue now costs $11 per month for Android users: Details here

Twitter Blue plan starts at $8/month or $84/year in available countries to get the blue checkmark in addition to early access to features

Twitter plans further layoffs in product division in coming weeks: Report

Musk had said in November that Twitter was facing "a massive drop in revenue" as advertisers dropped out

Elon Musk depicted as either liar or visionary in Tesla tweet trial

Nicholas Porritt, a lawyer representing Glen Littleton and other Tesla shareholders in the class-action case, promptly vilified Musk as he addressed jurors

Twitter's 27-hour online auction as Elon Musk grapples with rent

500 advertisers have paused spending on Twitter since Musk took over: Report

Espresso machines, neon logo, Macs on sale as Twitter auctions office items

The bidding will be on till 11:30 PM IST, January 18, and the prices are expected to increase till night

Twitter to block 3rd party apps, says 'enforcing long-standing API rules'

Twitter has announced that it is blocking third-party applications like Tweetbot and Twitterrific

Jury selection begins in Tesla investor lawsuit against Elon Musk

Investors sued Musk, saying that Tesla shares would not have swung so widely in value if he had not dangled the prospect of buying the company for $420 per share

Elon Musk wasn't invited to Davos despite what he says: WEF organisers

WEF says billionaire Elon Musk wasn't on the guest list for the annual meeting of business executives, global leaders and cultural trend-setters in Davos, Switzerland despite what Twitter owner claims

Instagram makes people depressed, Twitter makes people angry: Elon Musk

A follower posted that it is Microsoft-owned LinkedIn actually that makes people depressed, not Instagram. Musk replied with a fire sign