Tesla posts second ever quarterly profit, stocks jump

New York, Muharram 26, 1438, October 27, 2016, SPA — Electric car maker Tesla saw its stocks soar on
Wednesday after it announced its second ever profitable quarter, according to dpa.
The company, founded in 2003 and owned by colourful tech billionaire Elon Musk, saw net income of 21.9 million dollars in the third quarter, compared to a loss of 293.2 million dollars in the same period a year prior.
Tesla’s revenue climbed 145 per cent to 2.3 billion dollars. Analysts had forecast much worse numbers for the firm, and Tesla’s stocks rose more than 6 per cent in after-hours trading.
The company said it was moving forward with its goal of delivering 50,000 vehicles in the second half of 2016. In the fourth quarter a little more than 25,000 cars will go to customers, despite winter weather and the holiday season.
–SPA
01:49 LOCAL TIME 22:49 GMT