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markco2

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27/10/16

09:39

Post #: 20155577
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Originally posted by The_Earl_of_Loxley ↑

Tesla seems to have surprised on the upside - booking a profit for 3Q and shipping out more cars, with 50k for the second half on track. Musk is still targeting 500k deliveries in 2018 so that can only be good news for upstream suppliers of key raw materials

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Tesla Motors posted the second quarterly profit in its history as a public company, as the automaker had its best sales period on record, helped by the new Model X sport-utility vehicle.
The Palo Alto, California, company posted a profit of $US21.9 million, or 14 cents a share, compared with a loss of $US229.9 million, or $US1.78 a share, in the year-earlier quarter. On an adjusted basis, the company posted per-share earnings of 71 cents. Revenue shot up 81 per cent to $US2.3 billion.
Tesla shares rose 6.2 per cent to $US214.80 a share in after-hours trading following the third-quarter report.
Deliveries of Model S sedans and Model Xs rose to 24,821 during the quarter, more than double the same quarter in 2015. That included 8,774 Model Xs, which are new. The company also said an additional 5,065 vehicles were in transit to customers at the end of the quarter, which would be recorded as deliveries for the fourth quarter.
The automaker it is on track to make 50,000 vehicles in the second half of the year.
Increased sales helped the company churn a profit as Chief Executive Elon Musk pushes the company to create new models, including the Model 3 sedan slated for next year, and to finish building the world’s largest battery factory. [The Australian; 27/10/2016]

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Tesla Earnings Smash Expectations After Dramatic Change In Reporting Methodology

VRC Price at posting: 7.7¢ Sentiment: Hold Disclosure: Held
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