Tesla Motors (TSLA) Beats With Record Revenue, Shares Continue Bullish Path

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08:12:00 pm on May 6, 2011

As expected Tesla Motors (TSLA) reported another large quarterly loss, but it was less than analysts expected as the company posted better than expected revenues leading to a small spike in shares today.  The company reported an EPS loss of .44/share (vs the expectation for a .53/share loss on revenues of $49 million vs the expectation for $43 million.  Gross margins improved from 31% last quarter to 37%.  It was a record breaking quarter for Tesla in terms of both revenue of gross margin.  The large loss was a result of another significant spike in R&D costs as they prepare to roll out the Model S.

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Elon Musk, CEO of Tesla Motors said, "The continued performance of our Roadster business and growing contributions from our component supply and development programs for the Daimler Smart fortwo, Daimler A-Class and Toyota RAV4 EV produced quarterly revenue more than double of that achieved in the same quarter of last year."

I’m not seeing any guidance from the company.  Technically, shares remain quite strong and are in consolidation mode after a big spike in late March.  Today’s small surge on better than expected earnings could be the beginning of another breakout move in shares of Tesla.

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