Tesla Inc. Q1 Profit Decreases, Misses Estimates

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

The company's earnings came in at $409 million, or $0.12 per share. This compares with $1.390 billion, or $0.41 per share, last year.

Excluding items, Tesla Inc. reported adjusted earnings of $934 million or $0.27 per share for the period.

Analysts on average had expected the company to earn $0.42 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 9.2% to $19.335 billion from $21.301 billion last year.

Tesla Inc. earnings at a glance (GAAP) :

-Earnings: $409 Mln. vs. $1.390 Bln. last year. -EPS: $0.12 vs. $0.41 last year. -Revenue: $19.335 Bln vs. $21.301 Bln last year.