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Tesla fourth-quarter profit before items tops Street

Wednesday, 19 Feb 2014 | 4:14 PM ET

Feb 19 (Reuters) - Tesla Motors Inc, led by billionaire entrepreneur Elon Musk, posted better-than-expected results on Wednesday on strong demand for the Model S electric car.

The Palo Alto, California-based company, which was founded in 2003, earned $46 million, or 33 cents per share, excluding one-time items, during the fourth quarter. The average analyst estimate called for a per-share profit of 21 cents, according to Thomson Reuters I/B/E/S.

Including items, the company reported a net loss of 13 cents a share.

Tesla shares were up 5.4 percent in extended trade late on Wednesday.

(Reporting by Nichola Groom in Los Angeles and Deepa Seetharaman in Detroit; editing by Matthew Lewis)

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