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The electric car maker shrugs off coronavirus and posts a profit [CNNMoney.com]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Tesla posts profit despite hit from coronavirus New York (CNN Business) Tesla shrugged off coronavirus-related problems and posted a profitable first quarter. The electric car maker earned net income of $16 million, while income excluding special items, such as stock based compensation, came in at $227 million. The company lost money on both those measures in the year-earlier quarters. Analysts surveyed by Refinitiv had forecast the company would post a narrow loss due to the shutdowns of its factories in California and Shanghai at times during the quarter and a drop in completed vehicle sales compared to the fourth quarter of last year. Shares of Tesla ( TSLA ) jumped nearly 10% in after-hours trading on the report. Shares have now more the doubled since the start of the year, even if they have come down from the all-time high reached in mid-February before coronavirus concerns hit the broader market. Still, the company said it couldn't promise that its unexp
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