Tesla Misses Earnings By Wide Estimate

The San Jose Mercury News reports:

Tesla Motors hit the finish line for 2014 far behind expectations, but the Palo Alto electric car maker predicted that the arrival of the Model X will speed its growth this year.

Tesla sold a record 9,834 cars in the final three months of last year, producing a loss of $107.6 million, or 86 cents a share, on sales of $956.7 million; after adjusting for certain expenses and leasing arrangements, losses were 13 cents a share and revenues were $1.1 billion. Those results missed by a wide margin analysts' expectations, which were for profits of 31 cents a share on sales of $1.23 billion on average, according to a Thomson Reuters survey.

The great moments of crony capitalism.