Tesla Inc. Q3 Profit Decreases, misses estimates

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

The company's earnings totaled $1.85 billion, or $0.53 per share. This compares with $3.29 billion, or $0.95 per share, in last year's third quarter.

Excluding items, Tesla Inc. reported adjusted earnings of $2.32 billion or $0.66 per share for the period.

Analysts on average had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.9% to $23.35 billion from $21.45 billion last year.

Tesla Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $1.85 Bln. vs. $3.29 Bln. last year. -EPS (Q3): $0.53 vs. $0.95 last year. -Analyst Estimates: $0.72 -Revenue (Q3): $23.35 Bln vs. $21.45 Bln last year.