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Tesla Posts Net Profit For 5th Straight Quarter
The Bay Area-based electric car and solar panel maker said Wednesday that it made $331 million for its fifth-straight profitable quarter.
October 21, 2020 at 3:57 pm
PALO ALTO (CBS / AP) — Tesla charged through a summertime auto industry sales slump in the U.S. to post stronger-than-expected net earnings for the third quarter.
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The Bay Area-based electric car and solar panel maker said Wednesday that it made $331 million, or 27 cents per share, for its fifth-straight profitable quarter.
Excluding special items such as stock-based compensation, Tesla made 76 cents per share, beating Wall Street estimates of 57 cents. Revenue from July through September was $8.77 billion, a record that passed analysts’ expectations of $6.3 billion, according to FactSet.
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Read more at CBS San Francisco
