Tesla Fails to Offset Rising Costs, Net Loss Triples

Tesla Motors Inc reported a quarterly loss for the eleventh straight quarter as higher sales of its Model S sedans failed to offset rising costs.

The Silicon Valley electric car maker, controlled by Elon Musk, said net loss nearly tripled to $320.4 million, or $2.44 per share, in the fourth quarter ended Dec. 31 from $107.6 million, or 86 cents per share, a year earlier.

Revenue rose nearly 27 percent to $1.21 billion. (Reporting by Sai Sachin R in Bengaluru; Editing by Anil D'Silva)