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Tesla Revenue, Losses Jump
Tesla Motors Inc. reports its first-quarter revenue soared 51% to $939 million as deliveries of its Model S electric sedan zoomed 55% to more than 10,000 units.
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Tesla Motors Inc. reports its first-quarter revenue soared 51% to $939 million as deliveries of its Model S electric sedan zoomed 55% to more than 10,000 units.
But the costs of preparing to launch the Model X crossover later this year also deepened the company's losses to $154 million from $50 million in the first quarter of 2014. Still, the adjusted operating loss of 36 cents per share was much better than the 50-cent loss analysts were expecting.
CEO Elon Musk says Tesla is on track to build 55,000 EVs this year compared with 35,000 in 2014. He also reports construction of the company's first battery "gigafactory" is ahead of schedule. He says the Nevada facility will begin operation late next year.
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