Tesla Q4 Hit By Delivery Shortfall, But Company Expects To Be Back On Track In Q1
Electric car manufacturer Tesla reported earnings today following the bell, including $1.1 billion in non-GAAP revenue, and an adjusted loss per share of $0.13. On a GAAP basis, using normal accounting methods, Tesla had a wider loss of 86 cents per share, and revenue of $957 million.
The company delivered 9,834 cars in the period. In the sequentially preceding third quarter, Tesla delivered a comparable 7,785 Model S vehicles. For the full-year period, Tesla delivered 31,655 cars.
Tesla said it built 11,627 vehicles in Q4, which meant that it matched its full-year production target of 35,000 vehicles in 2014. However, it was unable to deliver promised vehicles due to a combination of customer vacations, severe winter weather, and shipping problems. Those deliveries will move into the first quarter.
The market expected Tesla to earn an adjusted $0.31 per share, on non-GAAP revenue of $1.23 billion. Tesla reports non-GAAP revenue, a…
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