Tesla Motors (NASDAQ:TSLA) reported its results for the first quarter. Tesla Motors, Incorporated designs, develops, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components.
Tesla Motors Earnings Cheat Sheet for the First Quarter
Results: Loss widened to $48.9 million (51 cents/diluted share) from $29.5 million of $4.04 per share.
Revenue: Rose more than twofold to $49 million YoY.
Actual vs. Wall St. Expectations: TSLA reported adjusted net loss of 44 cents per share. By this measure, the company beat the mean analyst estimate of a loss of 52 cents/share. Estimates ranged from a loss of 45 cents per share to a loss of 56 cents per share.
Quoting Management: “Our financial results continue to demonstrate the solid execution of our entire team,” said Elon Musk, CEO of Tesla Motors. “The continued performance of our Roadster business and growing contributions from our component supply and development programs for the Daimler Smart fortwo, Daimler A-Class and Toyota RAV4 EV produced quarterly revenue more than double of that achieved in the same quarter of last year.”
Competitors to Watch: Nissan Motor Co., Ltd. (NSANY), Daimler AG (DDAIF), Toyota Motor Corp. (NYSE:TM), HONDA MOTOR CO., LTD. (NYSE:HMC), General Motors Company (NYSE:GM), Ford Motor Company (NYSE:F), Electric Car Company, Inc. (ELCR), Tata Motors Limited (NYSE:TTM), Spartan Motors, Inc. (NASDAQ:SPAR), and Federal Signal Corporation (NYSE:FSS)
Stock Performance: Shares of TSLA are trading at $27.67 as of May 4, 2011 at 6:12 PM ET, up 3.67% from today’s closing price of $26.69.