Tesla Motors reports third-quarter loss of $74.7 million

PALO ALTO, Calif. – PALO ALTO, Calif. (AP) _ Tesla Motors Inc. (TSLA) on Wednesday reported a loss of $74.7 million in its third quarter.

The Palo Alto, California-based company said it had a loss of 60 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 2 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The electric car maker posted revenue of $851.8 million in the period, falling short of Street forecasts. Analysts expected $867.7 million, according to Zacks.

Tesla shares have risen 54 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $230.97, a rise of 31 per cent in the last 12 months.


This story was generated by Automated Insights using data from Zacks Investment Research. TSLA stock research report from Zacks.


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