Business Maverick: Tesla Growth Is Musk’s Goal After Profit Positions Stock for S&P

an alternate site near Tulsa, Oklahoma, which Musk said would remain in consideration for future expansion.S&P Calling?

Tesla reported a profit of 50 cents a share on a GAAP basis Wednesday, beating analysts’ consensus estimate for a loss of $1.06 a share. Revenue fell from a year ago to $6.04 billion, topping analysts’ expectations for $5.4 billion. “Tesla was gunning for S&P induction, and they hit their target,” said Gene Munster, managing partner at Loup Ventures. “But they didn’t have to pull too many rabbits out of the hat to get there. They did it for reasons that are sustainable.”In a phone call after Tesla’s results were released, Ray McConville, an S&P Dow Jonesspokesman, declined to comment on any individual company and said the index isn’t reconstituted on a pre-determined timeline.

Tesla’s sales of regulatory credits to other automakers rose to a record $428 million. That contributed to its hearty 25.4% automotive gross margin and cushioned the negative impact from the coronavirus, which briefly halted production and complicated deliveries.

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