Tesla Q4 Has $16 Million Net Loss – Annual Revenue Soars to $2 Billion

Posted by at 6:07 pm on February 19, 2014

Tesla Model STesla Motors said fourth-quarter net losses narrowed to $16 million from $90 million as the electric-vehicle maker benefited from higher sales and manufacturing efficiencies.

Fourth quarter revenues were $615 million, up 43 percent from last quarter, while non-GAAP revenues during the period were $761 million, up 26 percent from the third quarter.

The electric-vehicle maker said it earned a $46 million profit based on non-GAAP accounting standards during the fourth quarter. That’s compared with a loss of $75 million during the same quarter last year using the non-GAAP measurement.

Tesla said it sold 6,892 cars in the fourth quarter and 22,477 in 2013.

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