The loss equaled $2.04 per share, compared to a loss of $2.13 a year ago. Excluding one-time items, Tesla reported a loss of $1.33 per share, which was bigger than Wall Street expected. Palo Alto, California-based Tesla said it remains on track to start production of the Model 3 in July. The deliveries were about evenly split between the Model S sedan and Model X SUV. With a total market value of $50.6 billion, 14-year-old Tesla currently has a higher value than General Motors Co. and Ford Motor Co.

Source: ABC News May 03, 2017 20:33 UTC