Long struggling in the red, Tesla Motors delivered a surprise profit, the maker delivering more cars than expected for the third quarter, after a shortfall during the first half of the year.
The black ink, a total of $22 million, or $0.14 a share, was a much-needed boost for a carmaker struggling to launch its first mainstream product next year. The announcement came just days after Tesla took a sharp hit from influential Consumer Reports magazine, which declared the California carmaker suffers from serious quality and reliability issues.
The black ink sent shares of Tesla soaring after months of weak performance to $211.83 a share. But not all observers were convinced the company had achieved a long-sought breakthrough.