Tesla earnings disappoint

The San Jose Mercury News reports:

In the last three months, Tesla took on a multibillion dollar acquisition, ramped up factory production and revealed a broad, new corporate strategy.

One challenge it did not meet -- analyst expectations.

The Palo Alto electric vehicle maker on Wednesday reported a worse than expected loss of $2.09 per share during the second quarter, or $1.06 per share excluding certain expenses. Analysts polled by Thomson Reuters estimated a loss of 95 cents per share, or 52 cents per share excluding expenses. They projected the company would bring in $1.6 billion in revenue during the period.

The second quarter loss of $293 million was a 59 percent increase from the same quarter a year ago, on revenue of $1.3 billion, up 33 percent from last year. Adjusted for certain costs, the electric vehicle maker said it earned $1.6 billion.

Imagine that.