Tesla reports $702 million loss in first quarter

Tesla reported Wednesday wider-than-expected loss of $702 million, or $4.10 a share, in the first quarter after disappointing delivery numbers, costs and pricing adjustments to its vehicles threw the automaker off of its profitability track. When adjusted for one-time losses, Tesla lost $494 million, or $2.90 a share, compared with a loss of $3.35 a share a year ago. Tesla reported that it also incurred $67 million due to a combination of restructuring and other non-recurring charges.