Company News: Tesla (TSLA) quarterly losses beat analysts’ estimate

Market news

2 November 2017

Company News: Tesla (TSLA) quarterly losses beat analysts’ estimate

Tesla (TSLA) reported Q3 FY 2017 losses of $2.92 per share (versus $0.71 in Q3 FY 2016), missing analysts' consensus estimate of -$2.29.

The company's quarterly revenues amounted to $2.985 bln (+29.9% y/y), beating analysts' consensus estimate of $2.939 bln.

The company also announced about delaying Model 3 production targets. It currently expects to achieve a production rate of 5,000 Model 3 vehicles per week by late Q1 2018 (from end of 2017 previously).

TSLA fell to $306.06 (-4.68%) in pre-market trading.

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