Earnings: Tesla preview, Zynga aftermath

Tesla is scheduled to release earnings today after the markets close. Not coincidentally, the electric-car maker last week showed off the Model X and began taking orders — and came away with $40 million in advance sales for the SUV a day later, Tesla said in a press release yesterday.

Tesla also said reservations for the Model S, a sedan it is expected to roll out to buyers this summer, got a 30 percent boost after the unveiling of the Model X. Last week, CEO Elon Musk reportedly said the Model S was sold out till next March. The company says the Model X, its third vehicle, will begin production next year and will hit the roads in 2014.

One analysts survey expects the Palo Alto company to post a loss of 63 cents a share for the fourth quarter, compared with a loss of 47 cents a share in the same period a year ago, on $38.45 million in revenue, an increase of 6 percent. Bloomberg reports that as Tesla stopped production of its first vehicle, the Roadster, in December, the company’s main source of revenue was selling battery packs and other components to Daimler and Toyota.

Shares of Tesla have been on the rise recently — they’re more than 40 percent higher since mid-January — but they are down nearly 2 percent to about $32.50 as of this post.

• In other earnings news, Zynga on Tuesday beat expectations despite posting a fourth-quarter loss and reported that it had added to its user base, but it warned of slower growth. The company also reported increased spending and hiring. Investors are punishing its stock today. It’s down more than 14 percent to about $12.30 as of this post, wiping out some of the gains the San Francisco social-games maker has seen since its famous partner, Facebook, filed for an IPO at the beginning of the month. Zynga also reported full-year numbers yesterday: The maker of “Words with Friends” and other hit games generated more than $1 billion in revenue, a 91 percent rise from 2010.

 

 
 

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