Tesla loses $50 million in 1Q as costs rise

[Omaha Steve]

Source: AP-Excite

By DEE-ANN DURBIN

DETROIT (AP) — Electric car maker Tesla Motors lost $49.8 million in the first quarter as it accelerated the development of its new crossover.

Tesla's loss of 40 cents per share compared with a profit of 10 cents per share in the January-March period last year. Last year's first-quarter profit was the decade-old company's first ever profitable quarter.

Revenue grew 10 percent to $620.5 million in the latest quarter. Tesla said it produced a record 7,535 Model S sedans during the period and delivered 6,457 to customers.

Still, the results fell far short of Wall Street's estimates. Analysts polled by FactSet had forecast a profit of 8 cents per share on revenue of $683.5 million.

FULL story at link.


Read more: http://apnews.excite.com/article/20140507/us-earns-tesla-3d99b32df7.html

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FILE - In this March 17, 2014 file photo, Tesla representative John Van Cleave, right, shows customers Sarah and Robert Reynolds, left, and Vince Giardina, a new Tesla all electric car, at a Tesla showroom inside the Kenwood Towne Centre in Cincinnati. Tesla reports quarterly earnings on Wednesday, May 7, 2014. (AP Photo/Al Behrman, File)

[joshcryer]

1. They beat earnings though.

[OnlinePoker]

3. No, they missed by $63 million

They'd been forecast to make $683.5 million but only made $620.5 million.

[joshcryer]

5. I see $713 million in, $699 million projected.

http://moneymorning.com/2014/05/07/tesla-nasdaq-tsla-stock-to-move-on-todays-earnings/

[OnlinePoker]

6. I went with the link in the OP.

I don't know how two reports could be that far out of line with each other.

[joshcryer]

7. Another link, not sure what is up with OP:

http://m.cnbc.com//id/101650092

[MrScorpio]

2. Tesla is going to have to start making more affordable cars pretty soon

There's only so much penetration to be made in the high income buyer market.

[tammywammy]

4. I like Tesla's model

I like that they have the dual super fast charging and are putting in charging stations across the country. They need to get a lower cost car out there, until then they're a niche that the vast majorty cannot afford.

Put out a good $30-$35k Tesla and I'd look at them for my next vehicle.

[Steerpike]

8. I wish the Federal Government

would give people cash to buy electric cars. Say 30-40 percent of the sticker price. Letting the market slide into a hole is kinda of stupid. We should be heavily subsidizing all alternative energy products. Letting these businesses grow without heavy support really leaves them at the mercies of the market...which may not be too overly friendly...
I guess I can dream...

and oh yeah maybe double the size of the education budget for k-12 and postsecondary.
and free leonard peltier while you're at it!

[passiveporcupine]

9. 30 to 35K for a car?

Jesus...I'm a neanderthal...and a poor one at that. 10K is above my ability to pay. How much do you have to make a year to pay 35K for a car?

[madville]

10. $20,000 is my limit

And I make about 60k a year. A $20,000 car is about a $350 a month payment.

[Spitfire of ATJ]

11. "...the results fell far short of Wall Street's estimates."

And if you don't meet what they tell you to meet then they will punish you by devaluing your stock by more than the "loss".

BTW: These are the guys that tell Hersheys to use cut rate chocolate to boost profits.