Tesla: 4Q Earnings Snapshot
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.
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.