Tesla made a profit last quarter. "Great job," people said, "but it won't happen again." Everyone projected a loss. Yeah, they made a profit. Two in a row.
Analysts had predicted that losses for the electric car maker would sit at $0.17 per share, but instead the company showed a profit of $0.20 per share. That's a big beat and great news for the new kid on the block.
Tesla delivered 5,150 Model S sedans in the last quarter, which is what the company feels helped it turn a solid profit. Of course, the sale of credits was probably still a big help. Net income for the last quarter was up 70 percent when compared to the previous quarter.
Oh yeah, and the stock is now surging.
And now I bet people start projecting a loss for the next quarter. It'll happen.
Tesla Shocks Everyone And Reports Surprise Profit