Tesla Inc. Q2 Profit Increases, beats estimates

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

The company's bottom line came in at $2.26 billion, or $1.95 per share. This compares with $1.14 billion, or $1.02 per share, in last year's second quarter.

Excluding items, Tesla Inc. reported adjusted earnings of $2.62 billion or $2.27 per share for the period.

Analysts on average had expected the company to earn $1.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 41.6% to $16.93 billion from $11.96 billion last year.

Tesla Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $2.26 Bln. vs. $1.14 Bln. last year. -EPS (Q2): $1.95 vs. $1.02 last year. -Analyst Estimate: $1.85 -Revenue (Q2): $16.93 Bln vs. $11.96 Bln last year.