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Tesla Motors reports $50 million loss, shares slide

The Tesla Motors showroom at Santana Row in San Jose. (((Jacqueline Ramseyer/SVCN file photo))
PALO ALTO — Tesla Motors reported Wednesday that it delivered 6,457 all-electric Model S sedans in the first quarter and remains on track to deliver more than 35,000 cars this year.

But the electric-car maker lost $49.8 million, or 40 cents a share in the quarter, on $620.5 million in sales. While the results beat Wall Street expectations, Tesla’s stock tumbled more than 7 percent in after-hours trading over production delays of the upcoming Model X. A year ago in the same quarter, Tesla reported its first profit.



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