Elon Musk Admits to 'Conversations' With Apple About Tesla Meanwhile, the electric car company reported better-than-expected fourth-quarter financial results.

By Jason Fell

Opinions expressed by Entrepreneur contributors are their own.

Yesterday morning, shares of electric car company Tesla Motors were trading up due to reports that founder and Chief Executive Elon Musk had met with executives from Apple's acquisitions team. By yesterday afternoon, as Tesla was reporting its fourth quarter earnings, Musk had confirmed those rumors.

"We had conversations with Apple," the billionaire entrepreneur said in an interview with Bloomberg TV. Musk did not say, however, whether those conversations were indeed about a possible acquisition.

When asked if Tesla is for sale, Musk responded: "I think that's very unlikely. We need to stay super focused on … creating a compelling mass market electric car. And I'd be very concerned in any kind of acquisition scenario, whoever it is, that we'd become distracted from that task, which has been the driving goal of Tesla."

Related: Forget Smartphones and Watches. Are iCars and iCardio Monitors in Apple's Future?

Only once that goal is closer to being achieved will Tesla "entertain" those types of discussions, Musk added.

Meanwhile, Palo Alto, Calif.-based Tesla reported better-than-expected fourth quarter financial results, posting earnings of 33 cents a share on $761 million in revenue. Analysts polled by Thomson Reuters were expecting earnings of 21 cents a share on $686 million in revenue. Including items, Tesla reported a net loss of 13 cents a share. The company's cash on hand increased to $846 million.

During the fourth quarter, Tesla had a record 6,892 deliveries of its flagship Model S, which exceeded its target margin by 25 percent, the company said. It also hinted at a forthcoming project called the "Tesla Gigafactory" -- a partnership to more efficiently create the electric batteries used in Tesla vehicles.

Related: Despite Battery Fires, Tesla's Model S Lands the No. 1 Spot for Owner Satisfaction

Wavy Line
Jason Fell

VP, Native Content

Jason Fell is the VP of Native Content, managing the Entrepreneur Partner Studio, which creates dynamic and compelling content for our partners. He previously served as Entrepreneur.com's managing editor and as the technology editor prior to that.

Editor's Pick

She's Been Coding Since Age 7 and Presented Her Life-Saving App to Tim Cook Last Year. Now 17, She's on Track to Solve Even Bigger Problems.
Lock
I Helped Grow 4 Unicorns Over 10 Years That Generated $18 Billion in Online Revenues. Here's What I've Learned.
Lock
Want to Break Bad Habits and Supercharge Your Business? Use This Technique.
Lock
Don't Have Any Clients But Need Customer Testimonials? Follow These 3 Tricks To Boost Your Rep.
Why Are Some Wines More Expensive Than Others? A Top Winemaker Gives a Full-Bodied Explanation.

Related Topics

Business News

'All Hell Is Going to Break Loose': Barbara Corcoran Issues Warning About Real Estate Market, Interest Rates

The "Shark Tank" star appeared on FOX Business' "The Claman Countdown" this week.

Business News

This Is the Most Loved Company of 2023, According to a New Report

A new Axios and Harris Poll ranked the 100 most visible U.S. companies.

Branding

How I Made Money From My Book Without Selling a Single Copy

Did you know you can make money with a book without selling copies? Here's exactly how I did it.

Money & Finance

3 Ways to Create Multiple (Big) Streams of Income

Here are three ways to create multiple streams of income. These strategies require effort and resources but offer significant financial potential.

Business News

Lululemon Stock Surges After Strong Q1 Earnings Report, With Massive Earnings Overseas

The athleisure brand reported net revenue growth of 24% in the first quarter of 2023.

Branding

Finding Your Brand Voice — How to Write Copy That Sounds Like You

Here's how to nail your brand voice so you can differentiate yourself and build your business in an authentic way.