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Tesla's Loss Eases, Sales Surge as Model S and Model X Orders Hit Record Highs

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    • Tesla’s Loss Eases, Sales Surge as Model S and Model X Orders Hit Record Highs
Feb, 23rd 05:13

Shares of Tesla Inc. added more than 1.5% in after-hour trading on Wednesday after automaker reported earnings in the fourth quarter narrowed.

The electric-car maker said it lost $121.3 million, or 78 cents a share in three months to December 2016. The figure was much lower than a loss of $320.4 million, or $2.44 cents a share, in the fourth quarter of 2015. Adjusted for one-time items, Tesla lost $106.5 million, or 69 cents a share, in the quarter, compared with $2.02 a share a year ago.

On the other hand, the California-based company said sales advanced to $2.28 billion, compared with $1.21 billion a year ago.

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