Did Tesla Just Turn the Profit Corner?

Anyone reading this probably already knows that electric-vehicle (EV) maker Tesla (NASDAQ: TSLA) recently reported solid third-quarter results. Profits were better than expected, and the company indicated its production would continue growing. Investors celebrated by sending the stock 22% higher on Thursday.The numbers alone, however, don't tell the whole story. An image is required to fully appreciate the fact that Tesla may have just turned the profit corner.For the three months ended in September, the electric vehicle company turned $25.2 billion of revenue into earnings that worked out to $0.72 per share. Although the top line fell short of estimates, it was still up 8% from a year ago. Meanwhile, the bottom line topped estimates of about $0.60 per share, improving slightly on earnings reported in Q3 of 2023. Meanwhile, although total deliveries of 462,890 vehicles were just a tad shy of the expected 463,897, the figure was still markedly better than last year's third-quarter count of 435,059.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool