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Tesla: 4Q Earnings Snapshot

January 29, 2020 GMT

PALO ALTO, Calif. (AP) _ Tesla Inc. (TSLA) on Wednesday reported fourth-quarter net income of $105 million.

The Palo Alto, California-based company said it had profit of 56 cents per share. Earnings, adjusted for stock option expense, came to $2.14 per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.

The electric car maker posted revenue of $7.38 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $7.05 billion.

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Tesla shares have climbed 39% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $580.99, an increase of 95% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSLA at https://www.zacks.com/ap/TSLA