Oct 24, 2018 - Energy & Environment

Tesla posts profit for third time ever

Elon Musk smiling

Tesla ended its money-losing streak in the third quarter, and raked in $311 million in profits, thanks to strong Model 3 sales. The company said the Model 3 was 5th best selling car in the U.S. during the "truly historic" quarter.

Why it matters: This is a bright spot for CEO Elon Musk after a turbulent few months that saw an SEC investigation and settlement that forced Musk to relinquish his chairmanship.

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