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Tesla Reports First Quarterly Profit for Three Years

Phoenix666 writes:

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?

Tesla Surprises Wall Street, Posts a Profit for Q3

e_armadillo writes:

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.

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