Oct 23, 2019

Tesla posts unexpected profit in Q3

Photo: Smith Collection/Gado/Contributor/Getty Images

Tesla surprised Wall Street with a profit of $143 million in Q3, and it announced plans to ramp up vehicle production at its China factory sooner than expected. Deliveries of its Model Y SUV crossover will launch next summer, ahead of schedule, the company said.

Why it matters: Tesla's recent cash-losing streak is over, though the company turned a bigger profit in 2018's Q3. The electric car company also saw its first annual revenue drop since 2012, as it sells more of its lower-priced Model 3 vehicles and fewer higher-priced models.

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Tesla's good third-quarter earnings don't excuse its challenging future

Photo: Smith Collection/Gado/Contributor/Getty Images

Tesla had a good night, and now the question is whether it's a new day for the pioneering but volatile automaker that kicked off the push to move electric vehicles toward the mainstream.

Driving the news: Tesla surprised Wall Street with a $143 million third-quarter profit on Wednesday evening, and announced plans to ramp up vehicle production at its China factory sooner than expected.

Go deeperArrowOct 24, 2019

Tesla returns to the spotlight as Q3 earnings loom

Photo: Beata Zawrzel/NurPhoto via Getty Images

Tesla, struggling to turn the corner to profitability, will report its Q3 earnings after markets close Wednesday.

The big picture: Delivering more cars — and the electric carmaker already announced a record quarter on that front — isn't yet a recipe for financial health, especially as the lower margin Model 3, the best-selling EV in the U.S., is increasingly its dominant product.

Go deeperArrowOct 23, 2019

Tesla's global aspirations are dividing the markets

Data: Investing.com; Chart: Axios Visuals

Tesla’s third-quarter revenue fell by $2 billion, or almost 40%, in the U.S., a regulatory filing released Tuesday showed, the company's first drop in more than two years.

Worth noting: However, sales outside the U.S. jumped, with China sales growing 64% to $669 million.

Go deeperArrowOct 30, 2019