Tesla’s (NASDAQ: TSLA) third quarter earnings hammered analyst expectations by a wide margin, as the company earned .71 cents a share on an adjusted basis on $2.3 billion in revenues. This is the company’s second profitable quarter ever.
The Palo Alto, Calif., company posted a profit of $21.9 million, or 14 cents a share, compared with a loss of $229.9 million, or $1.78 a share, in the year-earlier quarter. On an adjusted basis, the company posted per-share earnings of 71 cents. Revenue shot up to $2.3 billion from $936.8 million.
The company also said it expects to post a profit in the fourth quarter, excluding some stock-based compensation.