Tesla Q1 Results Top Estimates

(RTTNews) - Tesla Motors, Inc. (TSLA) reported a net loss for the first quarter of $154.2 million or $1.22 per share, compared to a net loss of $49.8 million or $0.40 per share for the year-ago quarter.

Excluding items, adjusted net loss for the first quarter was $45.2 million or $0.36 per share, compared to net income of $17.0 million or $0.12 per share in the prior year quarter.

Both reported and adjusted figures for the latest quarter include a $22 million loss, or $0.17 per share, related to mostly unrealized losses from revaluation of our foreign currency holdings due to the strong dollar.

Revenue for the first quarter rose to $939.88 million from $620.54 million a year ago. Adjusted revenue for the latest quarter was $1.10 billion.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.50 per share on revenue of $1.04 billion for the first quarter. Analysts' estimates typically exclude special items.

Looking forward, the company said it expects to produce about 12,500 vehicles in the second quarter, representing a 12% sequential increase.

The company said it plans to deliver 10,000 to 11,000 vehicles in the second quarter, and that it is still on track to deliver about 55,000 Model S and X cars in 2015.