Tesla Surges After Beating Estimates: San Francisco Mover
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Tesla Motors Inc., the electric-car company led by Elon Musk, rose to a record after posting second-quarter results that surpassed analysts’ estimates on a surge in Model S sedan deliveries.
The company reported yesterday an operating profit of 20 cents a share, including 15 cents related to a leasing program. Even without that provision, results exceeded the average of 10 analysts’ estimates for a 20-cent loss, according to data compiled by Bloomberg. On its operating basis, Tesla said it will make money all year, even as it expands to Europe and Asia.