Tesla Shares Up 24 Percent Following First Quarter Profit
With a first quarter 2013 profit of $11 million and a 99 out of 100 score from Consumer Reports, everything seems to work just fine for Tesla Motors. And good news keep pouring in for the EV manufacturer, with Tesla shares going up 24 percent.
According to Automotive News, Tesla Motors Inc. shares surged to $69.40 on the New York Stock Exchange right after the company posted its first quarterly profit in history. The same source says that the company’s shares have gained 65 percent this year.
As we already reported yesterday, Tesla delivered 4,900 vehicles in the first quarter of 2013 for record sales of $562 million, up 83 percent when compared to the last quarter, which resulted in a profit of $15 million (GAAP profit of $11 million).
Furthermore, Tesla’s 4,900 examples delivered in North America in the first quarter have surpassed both the Chevrolet Volt and Nissan Leaf, with the two companies reporting 4,244 and 3,539 units sold over the same period of time.
Story via AutomotiveNews