Tesla posts strong Q3, but outlook falls short

DETROIT Tue Nov 5, 2013 4:18pm EST

DETROIT Nov 5 (Reuters) - Tesla Motors Inc reported on Tuesday a stronger-than-expected, third-quarter profit, but offered a fourth-quarter outlook that fell short of Wall Street estimates and the company's shares fell in after-market trading.

The electric car company reported an adjusted profit of 12 cents per share, better than the 11 cents per share expected by analysts, according to Thomson Reuters I/B/E/S.

But 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.

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