A sample text widget

Etiam pulvinar consectetur dolor sed malesuada. Ut convallis euismod dolor nec pretium. Nunc ut tristique massa.

Nam sodales mi vitae dolor ullamcorper et vulputate enim accumsan. Morbi orci magna, tincidunt vitae molestie nec, molestie at mi. Nulla nulla lorem, suscipit in posuere in, interdum non magna.

USA: Electric car company Tesla posts big loss

Electric car company Tesla Motors Inc. said Tuesday that its loss widened in the third quarter compared to the same period a year earlier. Tesla

Palo Alto-based Tesla, which this year became the first U.S. automaker to float an initial public stock offering since Ford Motor Co. in 1956, said its loss grew to $34.9 million from $4.6 million a year earlier.

But because of its wider stock distribution since going public, the loss per share narrowed to 38 cents from 66 cents, Tesla said in a Securities and Exchange Commission filing. The company now has more than 92 million shares outstanding compared with 7.6 million in the third quarter of 2009.

Revenue fell to $31.2 million from $45.5 million.

Tesla officials said the company is making progress compared with the second quarter of this year. Revenue is up 10% from the prior quarter and the net loss also narrowed from $38.5 million.

“We are very pleased to report steady top-line growth and significant growth in gross margin, driven by the continued improvement in Roadster orders and our growing powertrain business,” said Elon Musk, Tesla’s chief executive.
Read more at:


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.