Tesla Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Tesla Inc. (TSLA) announced a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $2.70 billion, or $0.78 per share. This compares with $2.26 billion, or $0.65 per share, in last year's second quarter.

Excluding items, Tesla Inc. reported adjusted earnings of $3.15 billion or $0.91 per share for the period.

Analysts on average had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 47.3% to $24.93 billion from $16.93 billion last year.

Tesla Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $2.70 Bln. vs. $2.26 Bln. last year. -EPS (Q2): $0.78 vs. $0.65 last year. -Analyst Estimate: $0.82 -Revenue (Q2): $24.93 Bln vs. $16.93 Bln last year.