Tesla Inc on Wednesday surprised investors by posting a profitable third quarter, boosted by record deliveries, cost cuts and improved production schedules for its new electric vehicle model, causing shares to soar in after-market trading.
Shares rose 17 per cent after hours on the surprise news, in which Tesla posted a cash balance increase to $5.3 billion. The car maker reported a profit of $1.86 per share, far beating analyst expectations for a loss of 42 cents per share.Investors have shown impatience with the company’s serial failures to meet financial and production targets in the past.
The company has said it plans to deliver 360,000 to 400,000 vehicles for all of 2019, and on Wednesday said it was “highly confident in exceeding 360,000 deliveries this year.” “We have cleared initial milestones toward our manufacturing license and are working toward finalizing the license and meeting other governmental requirements before we begin ramping production and delivery of vehicles from Shanghai,” the company said in a statement.
globebusiness To everybody. I leave you an article from the best page in gender and social politics in Argentina. Grito_delSur
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