The electric vehicle maker posted a net income of $311.5 million ($1.75 per share) during the quarter ended on September 30th, which compares with a loss of $619.4 million ($3.70 per share) in the year-ago quarter.
The electric car-maker made a record $311.5m (£241m) in the three months to 30 September, as the pace of vehicle deliveries accelerated. "Our goal in Q4-this is a goal, not a promise-is to get the average time of a auto from factory to customer in under 10 days", Musk told analysts. Of course, the big question is if Tesla will do this again in Q4, or if this is yet another fluke quarter. "And so Tesla had a good day, and I think Tesla has a lot of upside".
Tesla's stock, which rose 5.2% Friday during official trading, was down 1.8% in after-hours trading.
"Normally we'd tell investors to avoid reading too deeply into a single quarter's numbers, but this quarter really counted at Tesla".
The Journal reported that the FBI is investigating whether the company made production estimates that it knew would be impossible to meet.
Following a surge of orders past year, it struggled to meet manufacturing targets and deliver cars to customers.
However, less than a fifth of the roughly 455,000 reservations the firm reported in 2017 have been cancelled, it said. This is also the starting capacity, as the company plans to expand production to 500,000 vehicles before long. Tesla was able to make improvements to its Model 3 without disrupting its production rates, as the Company produced 5,300 in the last week of Q3.
Revenue more than doubled from past year to $6.8 billion to easily top analyst estimates, just as the profit did.
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Pro-government media in Turkey reported officials have such a recording, but its existence has not been confirmed. CIA Director Gina Haspel is now in Turkey and is expected to return Wednesday.
Two $1 million Mega Millions tickets sold in New Jersey
Still, about half of the approximately 320 million people living in the US are expected to play in today's Mega Millions drawing. The six winning numbers drawn on Tuesday night were five, 28, 62, 65, 70 and another five as the special "gold Mega Ball".
Microsoft enjoys record quarter thanks to Azure and Gaming
Microsoft's pride and joy Intelligent Cloud division continues to beat expectations and produce increased revenue numbers. Azure revenue rose 76 percent over the year, slower than the 89 percent rise in the previous quarter.
Akshay Anand, executive analyst at Kelley Blue Book, called it a "very strong" quarterly performance.
"Our earnings profile has flipped dramatically", Musk and chief financial officer Deepak Ahuja said in a letter to shareholders.
American company Tesla Inc.in the third quarter of 2018 made a profit for the first time in two years. Strong demand for pricier all-wheel-drive and high-performance versions of the Model 3, plus Tesla's plan to start selling the auto in Europe early next year, should support profit margins, he wrote in an email. "As we have transformed from a 100,000 per year unit carmaker into a ~340,000 unit per year carmaker, our earnings profile has flipped dramatically".
"Model 3 is attracting customers of both premium and non-premium brands, making it a truly mainstream product", Musk said, adding that the company's "earnings profile has flipped dramatically".
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Earlier this month, a USA judge approved Tesla and Musk's $40 million settlement with the Securities and Exchange Commission over a probe of Musk's August tweet citing funding being secured to take the company private. The SEC, which alleged that the tweets were fraudulent, at first sued Musk, before reaching a settlement that required Musk and Tesla to each pay $20 million in fines, while finding an independent chairman to replace Musk.
The New York Times states that Tesla has released a statement on the WSJ story claiming that it has only received a voluntary request for documents.