Tesla Q3 Results Top Estimates

(RTTNews) - Tesla Motors, Inc. (TSLA) reported a net loss for the third quarter $74.7 million or $0.60 per share, compared to a net loss of $38.5 million or $0.32 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $3.2 million or $0.02 per share, compared to $15.9 million or $0.12 per share in the prior year quarter.

Total revenue for the third quarter rose to $851.89 million from $431.35 million a year ago. Adjusted revenue for the quarter rose 55% to $932.35 million from $602.58 million last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share on revenue of $889.28 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward, the company said it expects to earn $0.30 to $0.35 per share in the fourth quarter on an adjusted basis. Analysts currently expect the company to earn $0.75 per share for the fourth quarter.