Tesla: 4Q Earnings Snapshot
PALO ALTO, Calif. (AP) _ Tesla Inc. (TSLA) on Wednesday reported fourth-quarter net income of $139.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Palo Alto, California-based company said it had net income of 78 cents. Earnings, adjusted for stock option expense, were $1.93 per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.08 per share.
The electric car maker posted revenue of $7.23 billion in the period, which beat Street forecasts. Six analysts surveyed by Zacks expected $7.14 billion.
Tesla shares have declined 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $308.77, a drop of 11 percent in the last 12 months.