Published November 05, 2012
N – Tesla Motors Inc reported a bigger quarterly loss on Monday as it ramped up production of its Model S sedan, and the electric carmaker maintained its 2012 revenue outlook.
Tesla said its third-quarter loss had widened to $110.8 million, or $1.05 per share, from $65.1 million, or 63 cents per share, a year earlier.
Excluding one-time items, Tesla reported a loss of 92 cents per share, compared with analysts' expectations of a loss of 90 cents, according to Thomson Reuters I/B/E/S.
Revenue came to $50 million, up 16 percent from a year earlier and up 88 percent from the previous quarter. Analysts had expected $48.3 million.
Palo Alto, California-based Tesla maintained its 2012 revenue outlook of between $400 million and $440 million. In late September, the company had cut its previous forecast of $560 million to $600 million due to a slower-than-anticipated rollout of its key product, the Model S.