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Tesla Motors, Inc. Message Board

  • warclaws warclaws Aug 4, 2010 6:52 PM Flag

    Loss Triples from year ago Qtr.

    PALO ALTO, Calif. (AP) -- Electric car maker Tesla Motors Inc., which went public in June, said Wednesday that its second-quarter net loss tripled from a year earlier, but the company stood by its goal to introduce its next-generation electric sedan by 2012.

    Tesla, which has never made a quarterly profit, has said it expects to lose money until that car, the Model S, is produced in large numbers. The company currently makes only the $109,000 Roadster, a two-seater.

    Tesla reported a net loss of $38.5 million, or $5.04 per share, for the three months that ended June 30. That compares with a loss of $10.9 million, of $1.56 per share, during the same period last year.

    Revenue rose to $28.4 million from $26.9 million, lifted by development services revenue.

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