Comment on Tesla stock surges after Elon Musk's electric-car company posts record profits

Tesla stock surges after Elon Musk's electric-car company posts record profits

Tesla CEO Elon Musk. AP Photo/Jae C. Hong Tesla's strong third-quarter earnings sent its stock price up as much as 5.5% in pre-market trading on Thursday.Elon Musk's electric-car maker delivered nearly 140,000 vehicles last quarter, fueling record operating income of $809 million and free cash flow of $1.4 billion.Tesla's bosses are aiming to deliver 500,000 vehicles this year, requiring them to produce about 181,000 cars this quarter — 29% more than their previous quarterly record.The automaker's stock price has soared almost five-fold this year, giving the group a bigger market capitalization than Johnson & Johnson, Procter & Gamble, or JPMorgan Chase.Visit Business Insider's homepage for more stories.Tesla shares surged as much as 5.5% in pre-market trading on Thursday after Elon Musk's electric-car company posted third-quarter earnings on Wednesday that beat Wall Street's expectations.The automaker grew revenues by 39% year-on-year to $8.8 billion, which helped to more than triple its operating income to a record $809 million.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News