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22.10.2020

Tesla posts its most profitable quarter ever

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The company still hopes to hit its target of half a million car sales this year

Stocks impacted: Tesla (TSLA)

Tesla announced its third-quarter financial results, posting its fifth consecutive profitable quarter. The company said it earned an adjusted $0.76 per share for the three months that ended September 31 on $8.77 billion in revenue versus $0.55 expected. Tesla also made $397 million by selling regulatory tax credits to other automakers and said it still hopes to hit its target of half a million car sales this year. The company delivered 139,300 vehicles in the third quarter, beating its previous record of 112,000 vehicle deliveries in the fourth quarter of 2019. The stock finished 0.17% higher and rose about 3% after hours.

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