PALO ALTO, Calif. – PALO ALTO, Calif. (AP) _ Tesla Motors Inc. (TSLA) on Wednesday reported a loss of $293.2 million in its second quarter.
On a per-share basis, the Palo Alto, California-based company said it had a loss of $2.09. Losses, adjusted for non-recurring costs and stock option expense, came to $1.06 per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 56 cents per share.
The electric car maker posted revenue of $1.56 billion in the period, surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.52 billion.
Tesla shares have fallen nearly 6 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $225.79, a drop of 13 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSLA at http://www.zacks.com/ap/TSLA
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