The Traderszone Network

Published in TZ Latest News 5 November, 2014 by The TZ Newswire Staff

Tesla third-quarter loss doubles to $75 million, shares jump

Tesla Motors Inc (TSLA.O) shares rose more than 7 percent in after-hours trading on Wednesday after the electric-car maker beat analysts’ expectations for third-quarter results. The automaker said its quarterly loss nearly doubled from a year ago to $75 million, as manufacturing, sales and development expenses increased to meet rising demand for its Model S sedan. The company also said production of its next vehicle, the Model X crossover, will be delayed again by several months until the autumn of 2015, “to get all of the details right,” according to Chief Executive Elon Musk.