Tesla Shares Inc Move Higher Despite Huge Earnings Miss

Tesla Shares Inc Move Higher Despite Huge Earnings Miss
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Tesla Motors released its earnings report tonight after closing bell, posting adjusted losses of 87 cents per share, compared to the consensus of 16 cents per share, and revenue of $1.75 billion, against the consensus of $1.85 billion. In the fourth quarter of 2014, the automaker reported adjusted losses of 13 cents per share and revenue of $1.1 billion.

Shares of Tesla edged higher by as much as 3.66% to $148.93 in after-hours trades. The stock has plunged by more than 38% so far year to date, significantly underperforming the S&P 500 Index. It seems management’s positive commentary in tonight’s shareholder letter struck a chord with investors.

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