Tesla Shares Up 4% After Narrower-than-expected Quarterly Loss
Shares of Tesla Inc. rose 4.6% late Wednesday after the Silicon Valley car maker reported a narrower-than-expected second-quarter loss and sales above Wall Street expectations. Tesla said it lost $336.4 million, or $2.04 a share, in the quarter, compared with a loss of $293.2 million, or $2.09 a share, in the year-ago period. Adjusted for one-time items, Tesla lost $1.33 a share, compared with $1.61 a share a year ago. Revenue reached $2.8 billion, up from $1.3 billion a year ago. Analysts polled by FactSet had expected the company to report an adjusted loss of $1.88 a share on sales of $2.52 billion. Shares ended the regular session up 2%.
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