Tesla says fourth quarter profit rose 59%

The company’s profit was 59% more than the same period a year ago (Chris Carlson/AP)

Tesla posted record net income in the fourth quarter of last year and the company has predicted that additional software-related profits will keep its margins higher than any other carmaker.

The maker of electric vehicles and solar panels, based in Austin, Texas, said it made 3.69 billion dollars (£2.97 billion) from October through to December, or an adjusted 1.19 dollars per share.