Tesla Q3 loss no dampener to enthusiasm

Tesla continues to lose money, but as usual that hasn't made much of an impact on management - or investor - enthusiasm. The California EV maker reported a third quarter (Q3) loss of US$75m, or US$0.58/share, on a non-GAAP basis. Earnings took a hit from development and launch costs for the new Model X, the brand's first SUV. On the plus side, Tesla's non-GAAP revenue rose nearly 33% to US$1.24bn and deliveries, at 11,603 units, topped expectations. This figure should rise to 17,000-19,000 units in Q4, ending the year with deliveries of 50,000-52,000 in total. Originally, the OEM had been aiming for 55,000 units this year, but lowered the target a few months ago.