Tesla Inc. Q1 Profit Decreases, misses estimates

(RTTNews) - Tesla Inc. (TSLA) reported a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $1.13 billion, or $0.34 per share. This compares with $2.51 billion, or $0.73 per share, in last year's first quarter.

Excluding items, Tesla Inc. reported adjusted earnings of $1.54 billion or $0.45 per share for the period.

Analysts on average had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.7% to $21.30 billion from $23.33 billion last year.

Tesla Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.13 Bln. vs. $2.51 Bln. last year. -EPS (Q1): $0.34 vs. $0.73 last year. -Revenue (Q1): $21.30 Bln vs. $23.33 Bln last year.