Tesla: Q2 Earnings Snapshot

AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Tesla Inc. (TSLA) on Wednesday reported second-quarter profit of $1.12 billion.

On a per-share basis, the Austin, Texas-based company said it had net income of 32 cents. Earnings, adjusted for one-time gains and costs, came to 33 cents per share.

The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The electric car maker posted revenue of $28.24 billion in the period, which beat Street forecasts. Eleven analysts surveyed by Zacks expected $25.81 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