Tesla Motors Inc. shares seesawed in late-trading Tuesday after the electric-car maker reported a surprise loss in the fourth quarter and lower-than-expected revenue for the quarter. The company maintained it is on track to become profitable, on an adjusted basis, this year, and said that beginning in March it expects to become net cash flow positive. Tesla said it lost $114 million in the quarter, or 87 cents a share, adjusted for one-time items. That compares with an adjusted loss of $16.2 million, or 13 cents a share, in the fourth quarter of 2014. Revenue reached $1.75 billion in the quarter, up 59% from $1.1 billion in the year-ago period. Analysts polled by FactSet had expected Tesla to report earnings of 16 cents a share on sales of $1.85 billion in the quarter.
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