Tesla posts rare profit

Canada Goose Jackets Tesla just unveiled one of its most unusual feats yet: turning canada goose outlet online uk a profit. Tesla (TSLA) posted a profit of $22 million for the third quarter, which canada goose outlet winnipeg address is just the second time it has ever been in the black. Its only other quarterly profit canada goose outlet store uk came more than three years ago. Canada Goose Jackets

The car company’s financial performance beat Wall Street estimates and is much improved from the $230 million loss Tesla reported in the same quarter a year earlier.

canadian goose jacket Elon Musk, Tesla’s CEO canadagooseparkasoutlet , described the profitable quarter as „definitely one of the best moments at Tesla” on a conference call with analysts. Musk also said he canada goose parka outlet uk thinks canada goose outlet in vancouver Tesla may be profitable again next quarter. canadian goose jacket

canada goose After a difficult first half of the year, Tesla is now shipping a record number of cars per quarter and seeing its profit margins improve on each vehicle. canada goose

buy canada goose jacket cheap „I personally probably took a year off my life or more camping out in canada goose outlet 2015 the freaking factory,” canada goose outlet uk Musk said on the call. „We went canada goose parka outlet through bloody hell. We got out canada goose uk of that around mid June.” buy canada goose jacket cheap

Canada Goose Parka Tesla’s stock jumped as much as 6% in after hours trading canada goose outlet us Wednesday following the results. Canada Goose Parka

Canada Goose online In late August, Musk sent an e mail to Tesla employees imploring them to slash costs and „deliver every car we possibly can” in a mad dash to turn a profit. Canada Goose online

uk canada goose Related: Elon Musk’s push for autopilot unnerves some canada goose outlet in toronto Tesla employees uk canada goose

cheap Canada Goose „The third quarter will be our last chance to show investors that canada goose outlet store near me Tesla can be at least slightly positive cash canada goose outlet store montreal flow and profitable canada goose outlet online reviews before the Model 3 reaches full production,” Musk wrote in the email. cheap Canada Goose

canada goose clearance sale For Musk, this quarter’s results are about more than bragging rights. canada goose clearance sale

Canada Goose sale Tesla will likely need to raise more money to finance the production of the Model 3, its first mass market car, and build its ginormous Gigafactory. The car company expects to invest billions on each effort. Canada Goose sale

canada goose coats on sale Musk is canada goose outlet online store also trying to convince shareholders to approve Tesla’s acquisition of canada goose factory outlet vancouver SolarCity (SCTY), another company with Musk as a chairman and large investor. Like Tesla, it’s also a business that typically loses money. canada goose coats on sale

canada goose coats By showing Tesla can be profitable, Musk may be canada goose premium outlet able to make these ambitious efforts easier to swallow on canada goose outlet jackets Wall Street. canada goose coats

canada goose store Tesla previously announced it shipped 24,500 vehicles during the September quarter and remains on track to ship 50,000 cars in the second half of this year. That’s roughly as many as Tesla delivered in all of 2015. canada goose store

canada goose clearance CNNMoney (New York) First published October 26, 2016: 4:33 PM ET canada goose clearance

Canada Goose Outlet Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are canada goose outlet authentic ET. Disclaimer. Morningstar: Morningstar, Inc. Factset: FactSet Research Systems Inc.. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. canada goose outlet mississauga and its licensors. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated More about the author , distributed and marketed by DJI Opco, a subsidiary of S Dow Jones Indices LLC and have been licensed for use to S Opco, LLC and CNN. Standard Poor’s and S are registered trademarks of Standard Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices S Dow Jones Indices LLC and/or its affiliates Canada Goose Outlet.