Tesla Falls After Q4 Financial Results

Electronic car manufacturer Tesla

released its fiscal fourth-quarter earnings results after the closing bell on Wednesday. In the after-hours trading session, the stock was down around seven percent to $35.75. The company reported a net loss of $89.9 million or $0.79 per share, compared to a net loss of $81.5 million or $0.78 per share, in last year's corresponding quarter. On an adjusted basis, Tesla's net loss was $74.6 million or $0.65 per share, versus a net loss of $72.2 million or $0.69 per share, last year. This compared to consensus estimates calling for a loss of $0.53 per share. Total sales in the quarter were up to $306.33 million from $39.38 million in last year's fourth-quarter. This beat analysts' consensus revenue estimates of $298.40 million.