Wednesday, 6 November 2013

TSLA;Tesla Motors Inc (TSLA) Earnings Analysis: Why Did The Stock Plunge?

Tesla motors

Tesla Motors Inc (TSLA) Earnings Analysis: Why Did The Stock Plunge? 

Tesla Motors Inc (NASDAQ:TSLA) released its earnings numbers for the three months through September this afternoon. The company’s shares dropped quickly after the numbers were released. Tesla showed that it sold 5,500 cars in the period and earned an adjusted 12 cents per share. The company showed revenue of $603 million for the three months.
The company’s poor performance on the after-market appears to stem from worse-than-expected performance of core Tesla business rather than reaction to the headline numbers. Tesla Motors Inc (NASDAQ:TSLA) predicted that it would sell 5,000 cars during the period, but expectations appear to have run ahead of the company’s own estimates.

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