In a closely watched earnings report Wednesday, Tesla Inc. reported fourth-quarter and full-year results and assured investors that it is on schedule to produce its long-awaited mid-market Model 3 electric car.
For the three months ended Dec. 31, the company lost $219.4 million, or 78 cents a share, on $2.3 billion in revenue. In the year-earlier quarter, Tesla lost $320.4 million, or $2.44 a share, on $1.21 billion in revenue.
Annual revenue rose 73% thanks to 76,230 deliveries of the company’s Model S and Model X electric luxury vehicles.
For the full year, Tesla said it lost $773 million on $7 billion in revenue, compared with a loss...