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Tesla Model S electric car on display during the 2012 North American International Auto Show in Detroit, Michigan. Will Tesla be able to deliver 20,000 of these babies next year?
The startup electric carmaker Tesla, helmed by CEO Elon Musk (his other company, SpaceX, just splashed-down its first successful commerical resupply mission to the International Space Station), continues to lose money — $1.05 a share in the third quarter, says its most recent earnings statement released today.
That's worse than in previous quarters and a lot worse than last year's third quarter, when Tesla lost 63 cents a share.
Compounding this bad news: Tesla lost more than analysts had expected. But there's some good news, too - a massive uptick in revenues for this quarter over the one before. This is from Tesla's SEC filing:
Our Q3 revenues were $50 million, an 88% increase from the prior quarter, which reflects ramping deliveries of Model S, continued sales of the remaining Roadsters internationally, and an increase in powertrain component sales to Toyota for the RAV4 EV. We delivered 253 Model S and 68 Roadsters in the quarter. Limited development services revenue was recognized in the quarter; however, progress on the full electric powertrain for the Mercedes Benz EV continues on schedule.