PALO ALTO, Calif. (AP) _ Tesla Inc. (TSLA) on Wednesday reported third-quarter profit of $143 million.
The Palo Alto, California-based company said it had profit of 78 cents per share. Earnings, adjusted for stock option expense, were $1.86 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The electric car maker posted revenue of $6.3 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $6.52 billion.
Tesla shares have fallen 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $254.68, a drop of 13% in the last 12 months.
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
The Associated Press