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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Tesla Records $38M Loss 0 comments
    Nov 6, 2013 11:04 AM | about stocks: TSLA

    Originally published at www.seclive.com

    Filing in Focus: Tesla 8-K, November 5, 2013

    Tesla Motors, Inc. (NASDAQ:TSLA) announced its third quarter financial results, reporting that it lost $38M during the quarter. The electric-car maker exceeded its Model S delivery estimate of 5,000 cars, reporting 5,500. CEO Elon Musk commented to analysts that demand for the car is very strong but the company's production capacity is constrained in the United States while also acknowledging it has to start delivering vehicles to Europe. Tesla's third quarter revenue was $431M, with earnings of $38M and $0.32 per share. The company is predicting fourth quarter earnings similar to third quarter, and also reported that cash on hand increased $49M to $796M. Analysts comment that the company has a lot of appeal but its stock price has been extremely volatile, up more than 400% this year, but its 52-week range from a $29.33 low to a $194.50 high.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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