Tesla Reports Surprise Loss, Misses Delivery Target

Tesla Motors Inc. late Wednesday reported a fourth-quarter adjusted loss of 13 cents a share, versus a gain of 33 cents a share a year ago and below Wall Street expectations of earnings of 30 cents a share, according to FactSet. The electric-car maker reported sales of $956.7 million on the quarter, compared with sales of $761 million a year ago and expectations of $1.22 billion. Tesla missed its delivery goals for 2014, blaming the weather, vacations, and shipping problems for the miss. North American deliveries were flat. The car maker said it expects "significantly higher" adjusted profit in 2015, and that its coming SUV, the Model X, will start shipping in six months. Shares of Tesla fell 2% after ending the regular session down 1.6%.