Tesla Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Tesla Inc. (TSLA) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $3.29 billion, or $0.95 per share. This compares with $1.61 billion, or $0.48 per share, in last year's third quarter.

Excluding items, Tesla Inc. reported adjusted earnings of $3.65 billion or $1.05 per share for the period.

Analysts on average had expected the company to earn $0.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 55.9% to $21.45 billion from $13.76 billion last year.

Tesla Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $3.29 Bln. vs. $1.61 Bln. last year. -EPS (Q3): $0.95 vs. $0.48 last year. -Analyst Estimate: $0.99 -Revenue (Q3): $21.45 Bln vs. $13.76 Bln last year.