Tesla shares jump on profitable quarter, Model Y production
Tesla continued its profitability streak in the fourth quarter, earning $105 million, results that beat expectations and sent shares higher in after market trading Wednesday. according to earnings reported after the market closed Wednesday.
Tesla also announced Wednesday that production of the Model Y started this month, ahead of schedule.
Shares were 6.5% in after-market trading.
The automaker’s fourth-quarter results included $105 million in net income, or 56 cents a diluted share, compared with $140 million, or $78 cents a share, in the same year-ago period. Tesla earned $386, or $2.14 a share, in the fourth quarter when adjusted for one-time items.
Tesla reported revenue of $7.38 billion, 17% higher than the $6.3 billion generated in the previous period.
Tesla continued its profitability streak in the fourth quarter, earning $105 million, results that beat expectations and sent shares higher in after market trading Wednesday. according to earnings reported after the market closed Wednesday. Tesla also announced Wednesday that production of the Model Y started this month, ahead of schedule.…
