(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)
