Tesla Posts Widening Loss in Q3

Revenues fell Revenue fell to $31.2 million from $45.5 million over 2009.

Published: 10-Nov-2010

Electric car company Tesla Motors Inc. said Tuesday that its loss widened in the third quarter compared to the same period a year earlier.

Palo Alto-based Tesla, which this year became the first U.S. automaker to float an initial public stock offering since Ford Motor Co. in 1956, said its loss grew to $34.9 million from $4.6 million a year earlier.

But because of its wider stock distribution since going public, the loss per share narrowed to 38 cents from 66 cents, Tesla said in a Securities and Exchange Commission filing. The company now has more than 92 million shares outstanding compared with 7.6 million in the third quarter of 2009.

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