Electric car maker Tesla has reported net income of $21.9m (£17.9m) for the third quarter after 13 consecutive quarterly losses.
This compared with a loss of $230m a year earlier.
Record deliveries helped to offset rising expenses for next year's roll-out of the company's mass-market Model 3 saloon (sedan) car.
Tesla [PDF] delivered a record 24,821 cars during the quarter, more than 300 more than estimated.
Shares in the electric car maker jumped 3.76% in after-hours trading.
"The Tesla third quarter results reflect strong company-wide execution in many areas," said chief executive Elon Musk and chief financial officer Jason Wheeler in a statement [PDF].
A sign of things to come for Tesla's bottom line, or a blip before the big boys catch up?
Forbes is reporting that Tesla reported a profit for the third quarter yesterday. Wall Street expected Tesla to post another loss:
http://www.forbes.com/sites/kenkam/2016/10/27/elon-musk-surprises-wall-street-with-tesla-profits/#732fb8517cec (Javascript required.)
I, for one, am happy to see this. Not just because I have reserved a model 3, but because I am very much in favor of Tesla's mission, and hope very much that they succeed.
(Score: 0) by Anonymous Coward on Friday October 28 2016, @04:14PM
Have you been to Florida? Leaving them underwater isn't necessarily a bad idea.
(Score: 2) by bob_super on Friday October 28 2016, @05:12PM
I'm worried about getting sued by the WWF for endangering the alligators with the excessively fat food.
(Score: 2) by JNCF on Friday October 28 2016, @06:52PM
I'm worried about getting sued by the WWF for endangering the alligators with the excessively fat food.
I'm worried about getting sued by the WWF for endangering their trademark with my underground alligator fighting competi--Oh, you mean the other WWF. I guess I should be worried about them, too.