LONDON (Reuters) -Tesla shares rose 6.5% in Frankfurt on Wednesday, after it reported profitability for its core auto business topped rock-bottom expectations in the first quarter, although it missed on other metrics such as revenue and net profit.

Traders were also digesting chief executive officer Elon Musk saying he would significantly cut back the time he devotes to the U.S. administration from next month and spend more time running his many companies.

Tesla (NASDAQ: TSLA ) shares traded up around 5% in after hours trading on Tuesday.