Tesla Inc. Q1 Profit Drops, Inline With Estimates

(RTTNews) - Tesla Inc. (TSLA) released earnings for first quarter that decreased from last year in line with the Street estimates.

The company's bottom line totaled $2.51 billion, or $0.73 per share. This compares with $3.32 billion, or $0.95 per share, in last year's first quarter.

Excluding items, Tesla Inc. reported adjusted earnings of $2.93 billion or $0.85 per share for the period.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 23.8% to $23.23 billion from $18.76 billion last year.

Tesla Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $2.51 Bln. vs. $3.32 Bln. last year. -EPS (Q1): $0.73 vs. $0.95 last year. -Analyst Estimates: $0.85 -Revenue (Q1): $23.23 Bln vs. $18.76 Bln last year.