Tesla Motors Inc. shares rose late Wednesday despite a larger-than-expected quarterly loss for the company. The electric-car maker said it lost $293 million, or $2.09 a share, in the quarter, compared with $1.45 a share in the year-ago period. Adjusted for one-time items, Tesla lost $150 million, or $1.06 a share, in the quarter, compared with 48 cents a share in the second quarter of 2015. Sales reached $1.6 billion in the quarter, up from $1.2 billion a year ago. Analysts polled by FactSet had expected Tesla to report an adjusted loss of 59 cents a share on sales of $1.63 billion in the quarter. Tesla reaffirmed its goal to deliver 50,000 cars during the second half of the year.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below