AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Tesla Inc. (TSLA) on Tuesday reported first-quarter profit of $409 million.
On a per-share basis, the Austin, Texas-based company said it had profit of 12 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 27 cents per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The electric car maker posted revenue of $19.34 billion in the period, also missing Street forecasts. Eleven analysts surveyed by Zacks expected $20.98 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSLA at https://www.zacks.com/ap/TSLA
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