Tesla in the fourth quarter, the net loss increased almost threefold

Tesla in the fourth quarter, the net loss increased almost threefold

Moscow. 11 February. American electric car manufacturer Tesla Motor, the net loss increased in the fourth quarter of 2015, almost three times that came as a surprise to investors. The company incurred substantial costs in connection with the development of two new car models.

According to the report, net loss was $320 million, or $2,44 per share, versus $107.7 million a year earlier. The adjusted loss was equal to 87 centers per share, while analysts surveyed by Zacks Investment Research expected a profit of 7 cents a share.

Tesla’s quarterly revenue increased 27% to $1.75 billion, against a consensus forecast of $1,78 billion.

The basic model Tesla – the Model S sedan, in the autumn of last year was released the sporty SUV Model X, at the end of 2017 planned out inexpensive electric car Model 3. Development of the Model X had been delayed and was associated with substantial additional costs, while sales volumes in the fourth quarter amounted to only 206 machines, far below the company’s expectations.

The annual loss amounted to nearly us $889 million, or $6,93 per share.

Tesla expects to regain profitability by the end of 2016 and to obtain operating profit in 2016. Analysts at wall street’s estimate of adjusted profit for the year at $1,71 a share, or about $244 million in addition, the company plans to supply the market in total, from 80 thousand to 90 thousand cars, that is at least 60% more than in 2015, when sales amounted to $ 50,58 thousand

Shares of the automaker fell by 40% from the beginning of 2016. On further trading after the close of the main session on Wednesday, the price fell by 3.1%.