Leigh Drogen

About the Author Leigh Drogen

Leigh Drogen is the Founder and CEO of Estimize. Estimize is an open financial estimates platform which facilitates the aggregation of fundamental estimates from independent, buy-side, and sell-side analysts, along with those of industry experts, private investors and students. By sourcing estimates from a diverse community of individuals, Estimize provides both a more accurate and more representative view of expectations compared to sell side only data. Leigh started his career as a quant trader at Geller Capital, a White Plains, NY based fund where he ran strategies that looked at earnings acceleration and analyst estimate revision models, as well as price momentum and several sentiment indicators. Leigh later went on to be the founder of Surfview Capital, a New York based asset management firm that used many of the same strategies as Geller Capital, with a focus on higher beta names on an intermediate term time frame. His educational background includes focus in economics and international relations, specifically war theory. He is a graduate with honors from Hunter College in New York City. You can contact Leigh by emailing him at Leigh@estimize.com

Spending Increase Outpaces Sales Growth at Tesla Motors Inc

Tesla Motors Inc (NASDAQ:TSLA) just reported its first quarter financial results revealing a loss of 36 cents per share on $1.10 billion in revenue.

The electric car company missed the Estimize consensus of -$0.25 but beat Wall Street’s forecast for a loss of 52 cents per share. Revenues were essentially in-line with the Estimize consensus and better than the Street’s projection of $1.04 billion.

Tesla delivered a record 10,045 vehicles which resulted in a quarter that matched the average sales prediction from the 149 estimates on Estimize. Revenue increased 55% compared to the same quarter of last year thanks to improved production capacity and deliveries.

While revenue growth was strong, Tesla lost more money than Estimize contributors expected. Elon Musk’s company cranked up its spend this quarter to improve its facilities and launch Powerwall, its Tesla Energy home battery product. Tesla reported a Non-GAAP net loss of $45.25 million compared to a net gain of $17.02 million in the comparable quarter of last year.

Looking ahead Tesla says its crossover vehicle, the Model X, is on track for deliveries beginning in late Q3 which may come as a relief to some investors. No further delays should be viewed as good news.