UPDATE 2-Tesla's profit run not derailed by coronavirus, full-year forecast scrapped [Reuters]
Tesla, Inc. (TSLA)
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Source: Reuters
Tesla's profit run not derailed by coronavirus, full-year forecast scrapped (Reuters) - Tesla Inc ( TSLA.O ) on Wednesday posted its third quarterly profit in a row, but said the novel coronavirus was hurting deliveries and lockdown restrictions made it impossible for the electric carmaker to provide guidance for the full year. Tesla said it could not predict how quickly vehicle manufacturing and global supply chains will normalize, saying it would revisit full-year guidance for net income and cash flow when it reports current-quarter results in three months. Shares of the company were up more than 8% at $870 in extended trade. The COVID-19 pandemic caused by the new coronavirus has disrupted demand for cars, with automakers including Tesla forced to furlough workers, and fueled uncertainty over when and how supply chains will return to normalcy once the curbs are eased. Tesla’s report of a profitable quarter comes just a day after Detroit-based rival Ford Motor Co ( F.N ) reporte
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