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Tesla Q2 loss widens 198.0% YOY

Tesla Inc. said its second-quarter normalized net income amounted to a loss of 89 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 62 cents per share.

The per-share loss increased 192.3% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $113.2 million, compared with a loss of $38.0 million in the year-earlier period.

The normalized profit margin fell to negative 11.8% from negative 4.9% in the year-earlier period.

Total revenue rose 24.1% on an annual basis to $955.0 million from $769.3 million, and total operating expenses climbed 41.0% on an annual basis to $1.13 billion from $798.1 million.

Reported net income totaled a loss of $184.2 million, or a loss of $1.45 per share, compared with a loss of $61.9 million, or a loss of 50 cents per share, in the year-earlier period.