Tesla Inc. Q3 Profit Increases, Beats Estimates

(RTTNews) - Tesla Inc. (TSLA) reported earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $2.167 billion, or $0.62 per share. This compares with $1.853 billion, or $0.53 per share, in last year's third quarter.

Excluding items, Tesla Inc. reported adjusted earnings of $2.505 billion or $0.72 per share for the period.

Analysts on average had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.8% to $25.182 billion from $23.350 billion last year.

Tesla Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $2.167 Bln. vs. $1.853 Bln. last year. -EPS (Q3): $0.62 vs. $0.53 last year. -Revenue (Q3): $25.182 Bln vs. $23.350 Bln last year.