Tesla has posted its first profitable quarter in two years, its third ever, thanks to the popularity of the Model 3 sedan. The automaker said on Wednesday that it generated $6.8 billion in revenue in the third quarter of 2018 and walked away with $311 million in profit — the most the company has ever made in a quarter.
The company finished the quarter with $3 billion in cash, up $731 million from the second quarter of the year. Tesla’s last two profitable quarters came in 2013 and 2016, and it has never made a profit over an entire year.
“Q3 2018 was a truly historic quarter for Tesla,” CEO Elon Musk and CFO Deepak Ahuja wrote in a letter to investors. “Model 3 is attracting customers of both premium and non-premium brands, making it a...
from The Verge - All Posts https://ift.tt/2ReYglH
No comments:
Post a Comment
Please let me know