Tesla posts bigger 2Q loss
PALO ALTO, Calif. (AP) — Tesla Motors Inc. (TSLA) on Thursday reported a wider loss in its second quarter, and beat analysts' expectations.
The Palo Alto, California-based company reported a loss of $61.9 million, or 50 cents per share, compared with a loss of $30.5 million, or 26 cents per share, in the same quarter a year ago.
Earnings, adjusted for non-recurring costs and stock option expense, came to 11 cents per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of 4 cents.
The company said revenue nearly doubled to $769.3 million from $405.1 million in the same quarter a year earlier, and missed Wall Street forecasts. Analysts expected $801.9 million, according to Zacks.
Tesla Motors shares have increased $72.87, or 48 percent, to $223.30 since the beginning of the year. The stock has risen $87.75, or 65 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full TSLA report: http://www.zacks.com/ap/TSLA