Tesla Sees First-Ever Quarterly Profit

[mahatmakanejeeves]

Source: The Wall Street Journal.

By MIKE RAMSEY And TESS STYNES

Tesla Motors Inc. expects to report its first-ever quarterly profit on better-than-expected sales of the luxury electric-car maker's Model S.

The company, which has reported a loss every quarter since it went public in 2010, said Model S deliveries reached more than 4,750 units, compared with Tesla's February outlook for 4,500.

Analysts polled by Thomson Reuters recently had projected a loss of seven cents a share for Tesla's first quarter.
....

The company in February had reported a wider fourth-quarter loss and promised new cost cuts, but said production of its Model S sedan was running at a rate of 20,000 vehicles a year, a key benchmark for investors. At the time, Mr. Musk said he was confident the company would be narrowly profitable this quarter, and forecast deliveries of 20,000 Model S battery-powered sedans this year.

Write to Mike Ramsey at [e-mail] and Tess Stynes at [e-mail]



Read more: http://online.wsj.com/article/SB10001424127887323611604578396313231119032.html

[Bernardo de La Paz]

1. Big positive news. Thanks! nt

[Paul E Ester]

2. First time I saw a tesla what impressed me the most was it's silent...nt

[Zorro]

3. It's a stunningly attractive car

It's got me thinking about getting one after the new owner beta-testing period winds down.

[SunSeeker]

4. K&R

[Uncle Joe]

5. Kicked and recommended.

Thanks for the thread, mahatmakanejeeves.

[Gregorian]

6. That's partly due to the fact that my friend picked his up last week.

It's an amazing car, as cars go. 21" wheels, 17 inch lcd screen for map directions. And 0-60 in 4.4 seconds! 300 supposed range, although I doubt it.

It's a whale, but my friend is ecstatic, and he and I have a history of being wild drivers.

[magic59]

7. Glad to see the big 3 getting some serious competition

Hope they continue to grow. The owner went through a lot of sleepless nights getting this one off the ground.