AP NEWS

Tesla: 3Q Earnings Snapshot

October 23, 2019

PALO ALTO, Calif. (AP) _ Tesla Inc. (TSLA) on Wednesday reported third-quarter profit of $143 million.

The Palo Alto, California-based company said it had profit of 78 cents per share. Earnings, adjusted for stock option expense, were $1.86 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.

The electric car maker posted revenue of $6.3 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $6.52 billion.

Tesla shares have fallen 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $254.68, a drop of 13% 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