Tesla Motors Earnings: Net Loss Widens and Revenues Drop Big

Tesla Motors Inc. (NASDAQ:TSLA) reported its results for the first quarter. Tesla Motors designs, develops, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components.

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Tesla Motors Earnings Cheat Sheet for the First Quarter

Results: Loss widened to $89.9 million (86 cents per diluted share) from $48.9 million (loss of 51 cents per share) in the same quarter a year earlier.

Revenue: Fell 38.5% to $30.2 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 78 cents per share. It fell short of the average revenue estimate of $32 million.

Key Stats:

A year-over-year revenue decrease last quarter breaks a four-quarter streak of revenue increases. The best quarter in that span was the first quarter of the last fiscal year, which saw revenue rise more than twofold.

The company has now fallen short of estimates in the last two quarters. In the fourth quarter of the last fiscal year, it missed expectations by 9 cents with a loss of 78 cents versus a mean estimate of a loss of 69 cents per share.

Looking Forward: The average estimate for the second quarter is down from a loss of 74 cents per share ninety days ago to a loss of 81 cents, indicating that analysts are increasingly pessimistic about the company’s next quarter performance. Down from a loss of $2.21 per share ninety days ago, the average estimate for the fiscal year is now a loss of $2.40.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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