Tesla makes surprise profit figures

24.10.2019 - Korneychuk Evgeniya
Tesla makes surprise profit figures

Tesla makes surprise profit figures

Tesla made a surprise profit markers as it posted $342 million. Wall Street had expected the company would yield negative figures amounting to $257 million.

After the trading hours, Tesla’s shares moved up by 20%. In the second half of the year 2018, Tesla posted back-to-back profits. But since the company went public in 2010, Tesla had only posted profits twice.

Similar to 2018’s third-quarter, last quarter’s earnings came just when analysts forecasted another batch of losses.

This year, Tesla has done ways to improve international sales and has spent hefty amounts on a manufacturing plant in China in an effort to cater to billions of consumers.

“We have also dramatically improved the pace of execution and capital efficiency of new production lines. Gigafactory Shanghai was built in 10 months and is ready for production, while it was 65% less

expensive to build than our model 3 production system in the U.S.,” Tesla noted in a letter on Wednesday.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?