Tesla reported a surprise second-quarter profit on Wednesday, further boosting shares as it confirmed ambitious targets for 2020 car deliveries despite the coronavirus pandemic.[NEW YORK] Tesla reported a surprise second-quarter profit on Wednesday, further boosting shares as it confirmed ambitious targets for 2020 car deliveries despite the coronavirus pandemic.
The electric car maker scored profits of US$104 million compared with a loss of US$408 million in the year-ago period.The result clears the way for the highflying company led by Elon Musk to potentially join the S&P 500. A requirement for the prestigious Wall Street index is four successive profitable quarters, which Tesla has now achieved.
Shares jumped 5.1 per cent to US$1,673.79, their latest rise following a phenomenal stretch that has lifted Tesla's price by more than US$1,000 per-share this year.
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