Tesla revenue for Q1 tops Wall Street forecasts
Shares of Tesla Motors were up more than four per cent in after-hours trading as the company posted higher revenues in the first quarter than analysts had been expecting.
The Palo Alto, Calif.-based electric car maker posted revenue of $1.6 billion US in the period. Six analysts surveyed by Zacks expected $1.59 billion.
The company said it lost $282.3 million during the quarter.
On a per-share basis, the firm lost $2.13. Losses, adjusted for non-recurring costs and stock option expense, came to 57 cents per share.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 54 cents per share.
Shares of Tesla hit $231.85, up $9.29 during the after-hours trading session.
