Tesla: 1Q Earnings Snapshot

PALO ALTO, Calif. (AP) _ Tesla Inc. (TSLA) on Wednesday reported a loss of $702.1 million in its first quarter.

On a per-share basis, the Palo Alto, California-based company said it had a loss of $4.10. Losses, adjusted for stock option expense, came to $2.90 per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.21 per share.

The electric car maker posted revenue of $4.54 billion in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $5.78 billion.

Tesla shares have fallen 22 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $258.66, a decrease of nearly 9 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSLA at https://www.zacks.com/ap/TSLA

The Associated Press

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