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Tesla posts wider second-quarter loss, shares down

Thu, 08/05/2010 - 5:24am
Reuters

SAN FRANCISCO (Reuters) -Tesla Motors Inc on Wednesday posted a wider second-quarter loss on higher research and development costs as the electric carmaker races to launch a new model in 2012.

The Silicon Valley carmaker's shares slipped 5 percent in after-hours trading after closing down more than 3 percent on the Nasdaq stock market during regular trading.

Tesla, known for its $109,000 Roadster, reported a second-quarter net loss of $38.5 million, or $5.04 per share, compared to a loss of $10.8 million, or $1.56 per share, a year ago.

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