Tesla first-quarter profit tops forecast, lifts sales outlook

DETROIT: Tesla Motors Inc reported its first-ever quarterly profit on Wednesday, trouncing Wall Street estimates, as the 10-year-old automaker delivered nearly 5,000 Model S electric cars during the first three months of the year.

The company, led by billionaire Elon Musk, said it expects to deliver 21,000 Model S cars worldwide, up 5 percent from its earlier target of 20,000. Eventually, global demand for its Model S electric car may surpass 30,000 vehicles a year, it said.