PALO ALTO, Calif. (AP) _ Tesla Motors Inc. (TSLA) on Wednesday reported a loss of $154.2 million in its first quarter.
On a per-share basis, the Palo Alto, California-based company said it had a loss of $1.22. Losses, adjusted for non-recurring costs and stock option expense, came to 36 cents per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 52 cents per share.
The electric car maker posted revenue of $1.1 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $1.04 billion.
Tesla shares have risen roughly 4 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $230.43, a climb of 11 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSLA at http://www.zacks.com/ap/TSLA
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Keywords: Tesla Motors, Earnings Report, Priority Earnings
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