Do my eyes deceive me, or did Elon just prove a lot of skeptics wrong, at least for now? The company just posted $312 million third quarter profit on $6.1 billion in auto revenue. Wait, what? Last year's same-quarter sales were $2.98 billion, less than half of this year's. Damn.
Tesla’s cash position rose to $3 billion from $2.2 billion, which means that questions about its ability to pay debts without raising more cash might subside. Their stock rose significantly in after-hours trading on a bad day for stocks.
There were some cautionary notes about future investments in the factory in China and investing in a new model, but wow Elon.