Tesla News: Model 3 Delay, Record Quarterly Revenue, Fully-Autonomous Driving Option Soon

Tesla, Inc. announced its financial results for the fourth quarter of 2017, as well as for the financial year 2017 Wednesday evening, after markets closed. While the company posted its highest quarterly revenue yet, and a smaller than expected loss, it also quietly delayed the delivery of its mass-market sedan, the Model 3. The revenue of almost $3.3 billion for the October-December quarter was 10 percent more than the preceding quarter, and over $1 billion more than the same quarter in 2016. For the entire year, gross revenue stood over $11.7 billion, a significant increase from the $7 billion posted during 2016. Wall Street expectations put the quarterly revenue around $3.2 billion. The adjusted loss per share, of $3.04, was also lower than the $3.19 expected.