Tesla Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Tesla Inc. (TSLA) announced a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $2.32 billion, or $2.05 per share. This compares with $0.27 billion, or $0.24 per share, in last year's fourth quarter.

Excluding items, Tesla Inc. reported adjusted earnings of $2.88 billion or $2.54 per share for the period.

Analysts on average had expected the company to earn $2.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 65.0% to $17.72 billion from $10.74 billion last year.

Tesla Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $2.32 Bln. vs. $0.27 Bln. last year. -EPS (Q4): $2.05 vs. $0.24 last year. -Analyst Estimate: $2.26 -Revenue (Q4): $17.72 Bln vs. $10.74 Bln last year.