Tesla loss widens, expenses offset higher revenue
LOS ANGELES (Reuters) - Electric car maker Tesla Motors Inc reported a wider quarterly net loss as higher expenses for research, development, sales and marketing offset a 95 percent surge in revenue.
Tesla said on Tuesday its net loss was $51.4 million, or 54 cents per share, for the fourth quarter ended December 31, compared with a net loss of $24.2 million, or $3.43 per share, in the same quarter a year earlier.
Last year's figures were based on a smaller number of shares outstanding. Tesla, based in Palo Alto, California, went public in June.