Tesla reports $702 million loss in first quarter

Tesla reports $702 million loss in first quarter

5 years ago
Anonymous $9jpehmcKty

https://techcrunch.com/2019/04/24/tesla-reports-702-million-loss-in-first-quarter/

Tesla reported Wednesday wider-than-expected loss of $702 million, or $4.10 a share, in the first quarter after disappointing delivery numbers, costs and pricing adjustments to its vehicles threw the automaker off of its profitability track.

The loss included $188 million of non-recurring charges. When adjusted for one-time losses, Tesla lost $494 million, or $2.90 a share, compared with a loss of $3.35 a share a year ago. Tesla reported that it also incurred $67 million due to a combination of restructuring and other non-recurring charges.