Market Overview

Tesla Loses 10% After Q4 Results

Related TSLA
Wal-Mart Stores, Inc. And Oracle Corporation Highlight CNBC's Stock Pops & Drops From September 19
Pacific Crest: Electric Vehicle Struggles Don't Apply To Tesla Motors Inc
Nevada Rolls Snake Eyes on Tesla (Fox Business)

Electronic car manufacturer Tesla (NASDAQ: TSLA) released its fiscal fourth-quarter earnings results after the closing bell on Wednesday.

During Thursday's trading session, TSLA was last trading down around 10 percent to $34.67 in the wake of the report. The Palo Alto-based company reported a wider than expected loss, although revenue was ahead of Wall Street estimates.

Tesla, despite being an early stage company with limited revenue, has been a solid stock since going public in July 2010. Since TSLA's first trading day, the shares are up roughly 80 percent.

The company currently has a generous market-cap of almost $4 billion as investors bet that Tesla will be a leading electronic car manufacturer as that market grows.

For the quarter, 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.

Despite Thursday's roughly 10 percent loss, TSLA is still positive on the year, adding a little better than 3 percent.

Posted-In: Earnings News Intraday Update Movers Best of Benzinga

 

Related Articles (TSLA)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters