Tesla Motors Q3 Loss Narrows

(RTTNews) - Tesla Motors, Inc. (TSLA) reported third-quarter net loss of $38.5 million or $0.32 per share, narrower than $111 million or $1.05 per share last year.

Adjusted net income for the latest quarter was $15.9 million or $0.12 per share, compared to a loss of $97.1 million, or $0.92 per share in the prior year quarter. On average, 13 analysts polled by Thomson Reuters estimated earnings of $0.11 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter surged to $431 million from $50 million in the prior year, while thirteen analysts estimated sales of $534.64 million.