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Tesla ekes out second consecutive profitable quarter

Elon Musk
Elon Musk. Photo: Nora Tam/South China Morning Post via Getty Images

Tesla said it was profitable for the second straight quarter on Wednesday, though it reported a slightly smaller profit than analysts expected. The company also reassured investors that it had "sufficient cash on hand" for a bond payment due in March.

Details: Tesla said strong sales were offset by cheaper Model S and Model X vehicles in China, as well as the lower-priced version of the Model 3. Additionally, the company expects between 360,000 to 400,000 vehicle deliveries in 2019, which would constitute a 65% increase from last year.