Tesla Reports Profit In Q1; Automotive Revenues Up 38%

(RTTNews) - Tesla (TSLA) reported first quarter non GAAP earnings per share of $1.24 compared to a loss of $2.90 per share, previous year. On average, 19 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.36, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $951 million, compared to $155 million, last year.

First quarter total revenues were $5.99 billion, up 32 percent from previous year. Analysts expected revenue of $5.90 billion for the quarter. Automotive revenues were $5.13 billion, up 38 percent. Automotive gross margin excluding regulatory credits was 20% compared to 15.3%, previous year.

Shares of Tesla were up 9% after hours.