Elon Musk recently promised that Tesla will be profitable "every quarter, from here on out." So far, he's not wrong.
The electric car company turned a $312 million profit in 2018's third quarter, it revealed in an earnings report Wednesday. Tesla has previously only profited in two other quarters, and this rare move drove shares up 10 percent on Wednesday afternoon, reports The Washington Post.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
May 18 editorial cartoonsCartoons Sunday's political cartoons feature Donald Trump, Air Force One, and the Pope.
-
5 hilariously heavenly editorial cartoons about the newly elected popeCartoons Artists take on the angel and the devil, music choices at the Vatican, and more
-
Celebrating 60 years of the Pennine WayThe Week Recommends This beautiful long-distance path immerses walkers in the beautiful British countryside
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pausesSpeed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
