Tesla Motors Loses $50M In 1st Quarter As Development Costs Grow
Electric car maker Tesla Motors said Wednesday it lost nearly $50 million within the first quarter, as development costs grew compared with a year ago.
Tesla’s loss of 40 cents per share contrasts with a profit of 10 cents per be part of the January-March period last year.
Revenue grew 10 % to $620.5 million. Tesla produced a record 7,535 Model S sedans and delivered 6,457 to customers.