Tesla Shares Tumble After $38 Million Loss In Q3

Tesla Motors Inc. posted a net loss of $38 million on $431 million in revenue during the third quarter -- a steeper loss on slightly higher revenue than in the second quarter.

In the third quarter of 2012, when Tesla was just starting production of the Model S, the automaker lost $111 million on $50 million in revenue.

The electric vehicle maker said Tuesday it posted a gross profit of $102 million in the latest quarter before r&d and sales, general and administrative expenses were factored.

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009load - 11/6/2013 8:09:26 PM

+1 Boost

They won't fold, just be sold. Musk will sell it to GM. Musk has a pattern of building companies with Government assistance, and then profiting from the sale. Duh, that's Ultra Capitalism. Build with other peoples money. Railroads, defense, public works, any large idea has always been built with Government funds and subsidies. How do you think Ross Perot got rich? Mitt Romney Bainbridge used grants, subsidies and tax breaks. Even Google was built using grants from the US Government. In the early years they indexed and built algorithms for the US military, using funds from the DoD. No one ever uses their own money! NFL, is another example....owners and the league want public funds to build their stadiums....so they can play roughly 10 weeks out of the year...pffttt. Not hating, I would do the same, how else does someone get rich. Remember that the NFL League does not pay corporate taxes as they are classified as a non-profit organization.

MattDarringer - 11/6/2013 8:10:13 PM

+1 Boost

The darling is losing money? Who could have seen this confidence scheme and thought of implosion?

skytop - 11/6/2013 8:19:27 PM

+2 Boost

Nice car but stock is definitely in the pump and dump category. The insiders win and you LOSE.

SanJoseDriver - 11/6/2013 8:48:01 PM

+2 Boost

They hit the sales target and revenue target that they previously advised investors, so I'm not sure what all the fuss is about. They are also supply constrained not demand constrained, meaning the bottleneck is manufacturing enough cars... not selling them. Much better than the other way around.

MattDarringer - 11/6/2013 10:30:58 PM

+1 Boost

Tesla is unsustainable. PERIOD

kysrsoze1 - 11/7/2013 9:39:35 PM

+1 Boost

Typical non-sensical RW sentiment here... root against an American company employing American labor. The U. S. Government is only allowed to pick winners when they have a stranglehold on the free market, providing billions of subsidies to Exxon-Mobil, BP and Shell (two of which are foreign-owned). Like it or not, oil is going to get progressively more scarce as China, India and Brazil continue to grow... only they have plans to limit their oil consumption. Brazil is big on organic fuels and China is going heavily into electric - because they actually have foresight. Left up to the misinformed public, China would end up owning our @sses.

Everyone howled about CAFE standards as well, but the move has resulted in lighter, even more powerful and faster autos. SanJoseDriver is right... it's a battery supply problem and Panasonic is ramping up their production for them. The loss and technical issues are temporary, and I'd rather support an American company than hope it goes under, to make me feel better about my political views. American exceptionalism at its best... exceptionally ignorant.