Hyperdrive
Tesla May Be ‘Losing Faith’ in How Soon Self-Driving Will Arrive
- Carmaker gave lower forecast for deferred revenue recognition
- Piper analyst is unconcerned, says software ‘worth the wait’
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Tesla Inc.’s expectation for the amount of revenue it will recognize from automated-driving software appears to have slipped, according to an analyst.
The carmaker said in a filing last week that it anticipates recognizing $962 million of deferred revenue this year, some of which is related to Full Self-Driving, a set of features Tesla sells that still require attentive human drivers. Alexander Potter, a Piper Sandler analyst, points out that the amount was down from a projection made three months ago for $1.39 billion and inconsistent with comments Chief Executive Officer Elon Musk made during a Jan. 26 earnings call.