Elon Musk
NEW YORK: Tesla Inc 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 nearly 21% to $307.12 Wednesday after hours on the surprise news, crossing $300 for the first time since March 1. Tesla on Wednesday posted a cash balance increase to $5.3 billion. The carmaker reported a profit of $1.86 per share, shattering analyst expectations for a loss of 42 cents per share.
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