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Tesla Q3 loss widens 221.3% YOY

Tesla Inc. said its third-quarter normalized net income was a loss of $1.10 per share, compared with the S&P Capital IQ consensus estimate of a loss of 59 cents per share.

The per-share loss widened 211.1% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $142.5 million, compared with a loss of $44.4 million in the prior-year period.

The normalized profit margin fell to negative 15.2% from negative 5.2% in the year-earlier period.

Total revenue climbed 10.0% year over year to $936.8 million from $851.8 million, and total operating expenses climbed 25.8% on an annual basis to $1.12 billion from $890.9 million.

Reported net income totaled a loss of $229.9 million, or a loss of $1.78 per share, compared with a loss of $74.7 million, or a loss of 60 cents per share, in the year-earlier period.