Tesla's chief financial officer quits as Musk addresses demand questions for its Model 3

Tesla watchers were rocked by another high-level departure Wednesday when the company’s chief financial officer, Deepak Ahuja, announced his retirement at the end of an earnings conference call with analysts.

The news comes as Tesla Inc. is struggling with cash to fund its growth and has cut car prices to address a drop in demand for its high-end Model S and Model X electric vehicles.

The company reported higher cash flow and stalling profit growth after the stock market closed Wednesday. It said its cash in the bank grew from $2.9 billion to $3.6 billion during the fourth quarter. Free cash flow was up a bit too: to $910 million from $881 million in the previous quarter.

The fourth quarter was profitable, but the profit shrank. Net income was $210 million in the fourth quarter, down from $312 million in the third quarter. Revenue rose to $7.2 billion from $6.8 billion in the third quarter, as Model 3 sales rose.

Read the entire article at LAtimes.com