AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Tesla Inc. (TSLA) on Wednesday reported first-quarter net income of $477 million.
On a per-share basis, the Austin, Texas-based company said it had profit of 13 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The electric car maker posted revenue of $22.39 billion in the period, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $21.92 billion.
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