Tesla Inc. Q2 Profit Decreases, Misses Estimates

(RTTNews) - Tesla Inc. (TSLA) reported a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $1.48 billion, or $0.42 per share. This compares with $2.70 billion, or $0.78 per share, in last year's second quarter.

Excluding items, Tesla Inc. reported adjusted earnings of $1.81 billion or $0.52 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.3% to $25.50 billion from $24.93 billion last year.

Tesla Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $1.48 Bln. vs. $2.70 Bln. last year. -EPS (Q2): $0.42 vs. $0.78 last year. -Revenue (Q2): $25.50 Bln vs. $24.93 Bln last year.