May 3 Electric-car maker Tesla Inc
reported quarterly revenue that more than doubled, driven by
record deliveries of its Model X sports utility vehicles and
Model S sedans.
Tesla also backed its target of launching its highly
anticipated mass market Model 3 sedan later this year, said the
car was on track for initial production in July.
Tesla, led by billionaire entrepreneur Elon Musk, said net
loss attributable to common shareholders widened to $330.3
million in the first quarter ended March 31, from $282.3 million
a year earlier. (bit.ly/2p9tTzv)
On a per-share basis, net loss narrowed to $2.04 per share
from $2.13 per share.
Revenue more than doubled to $2.7 billion from $1.15
Tesla's results reflect the first full quarter that includes
solar panel installer SolarCity, which it bought last year.
(Reporting by Narottam Medhora in Bengaluru; Editing by Sai