Bidness ETC - Tesla Motors Earnings Report For 1QFY15

The auto making company managed to beat the analysis of the Street analysts by reporting earnings just a little higher than expectations.

Tesla Motors (TSLA) reported earnings for the first quarter of 2015 on Wednesday, May 6 2015 in which the company proved the expectations of the analysts to be wrong. The smart car makers were seen to report a net loss of around $45 million which made it come around to 36 cents per share. A rise in the loss was seen as compared to the year before when the loss came around at 12 cents per share. As for the GAAP net loss, the car makers witnessed the total loss of $154 million which resulted in coming around at $1.22 per share. Such a loss was experienced by the electric car makers due to the increasing worth of the dollar on a global basis.

The last quarter that was faced by Tesla Motors (TSLA) turned out to be a difficult one for the company as it tried to penetrate into the Chinese market but due to some major issues, it failed to do so. For the last quarter, the net loss that was witnessed by the firm came around at 13 cents per share while the gain turned out to be at 33 cents which beat the estimated earnings of the Wall Street analysts who thought the company would report 30 cents per share for the gains.

The smart car producers reported adjusted revenue of around $1.1 billion for the first quarter which ended up beating the estimations of the analysts at Wall Street who predicted that Tesla sales for the quarter will produce revenue of around $1.05 billion, Bloomberg reported.

In a recent press release by Tesla, the company expected to report the sales of around 10,030 vehicles by the end of the first quarter and this guide number was comfortably met by the firm when it presented the number of cars sold coming around at 10,045. As for the total cars that were produced, the electric car makers made 11,160 vehicles.

Tesla Motors has made an expectation of producing around 12,500 cars by the end of the second fiscal quarter. The firm also reported in the earnings conference call that its plan of selling 55,000 units of the Model S cars is still in progress.