Tesla Inc. Q4 Profit Increases, beats estimates

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

The company's bottom line totaled $3.69 billion, or $1.07 per share. This compares with $2.32 billion, or $0.68 per share, in last year's fourth quarter.

Excluding items, Tesla Inc. reported adjusted earnings of $4.14 billion or $1.19 per share for the period.

Analysts on average had expected the company to earn $1.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 37.2% to $24.32 billion from $17.72 billion last year.

Tesla Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $3.69 Bln. vs. $2.32 Bln. last year. -EPS (Q4): $1.07 vs. $0.68 last year. -Analyst Estimate: $1.13 -Revenue (Q4): $24.32 Bln vs. $17.72 Bln last year.