UPDATE 1-Tesla posts strong 3rd quarter, but outlook falls short

Tuesday, 5 Nov 2013 | 4:48 PM ET

(Adds Model S deliveries, background on stock)

DETROIT, Nov 5 (Reuters) - Tesla Motors Inc shares tumbled on Tuesday after the electric car maker issued a weaker-than-expected fourth-quarter outlook that overshadowed a third-quarter profit that slightly topped Wall Street estimates.

The company said it sold more than 5,500 Model S electric cars during the third quarter, which fell short of some Wall Street estimates.

Tesla's shares dropped 7.3 percent in after-the-bell trade following the results.

Tesla reported a third-quarter adjusted profit of 12 cents per share. Wall Street analysts expected Tesla to report a profit of 11 cents per share, according to Thomson Reuters I/B/E/S.

Tesla, run by billionaire Elon Musk, said it expected its fourth-quarter profits to be "about consistent" with the third quarter. Analysts had expected Tesla to report a fourth-quarter profit of 20 cents per share.

The results come after Tesla shares fell more than 17 percent in October, the biggest one-month decline for the stock since December 2010. Tesla shares have surged almost five-fold this year.

(Reporting by Deepa Seetharaman; Editing by Leslie Gevirtz and Leslie Adler)

  Price   Change %Change