Tesla Shares Rally After Company Beats Expectations

By MarketWatch Pulse

Shares of Tesla Motors Inc. rose 7% on Tuesday after the company reported a narrower-than-expected third-quarter loss. Tesla said it lost an adjusted $75 million, or 58 cents a share, in the quarter, compared with an adjusted loss of 48 cents a share in the year-ago period. Adjusted revenue hit $1.24 billion, up 33% from a year ago. Analysts polled by FactSet had expected the electric car maker to report adjusted earnings of 60 cents a share on revenue of $1.24 billion. Tesla said it expects to build 17,000 to 19,000 vehicles in the fourth quarter, bringing the total for 2015 to 50,000 to 52,000 vehicles. That's a slight tweak from a previous company forecast of 50,000 to 55,000 vehicles for the year.

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