Tesla Motors Earnings: Exceeds Wall Street Revenue Estimate
Tesla Motors Inc. ‘s (NASDAQ:TSLA) loss widened in the third quarter, as the company’s results were dragged down by higher costs. Tesla Motors designs, develops, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components.
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Tesla Motors Inc. Earnings Cheat Sheet
Results: Loss widened to $110.8 million ($1.05 per diluted share) from $65.1 million (loss of 63 cents per share) in the same quarter a year earlier.
Revenue: Fell 13.1% to $50.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Tesla Motors Inc. fell short of the mean analyst estimate of a loss of 98 cents per share. It beat the average revenue estimate of $30.6 million.
Revenue has been on the decline for three quarters in a row. In the second quarter, revenue declined 54.2% to $26.7 million while the figure fell 38.5% in the first quarter from the year earlier.
The company fell short of estimates last quarter after beating the mark the quarter before with a loss of -100 cents versus a mean estimate of a loss of $1.03 per share.
Looking Forward: For the past two months, analysts have become increasingly pessimistic about the results for the company next quarter. The average estimate for the fourth quarter is a loss of 56 cents per share, down from a loss of 35 cents sixty days ago. Down from a loss of $3.11 per share ninety days ago, the average estimate for the fiscal year is now a loss of $3.39.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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