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Tesla Says It Made First Quarterly Profit

Posted: April 2, 2013 at 12:07 amTesla Motors Inc. says it will report an unspecified “full” profit for the quarter ended March 31, which would be its first quarterly earnings since going public three years ago.The Palo Alto, Calif.-based maker of electric vehicles previously projected it would post slight first-quarter income, excluding stock compensation expense and warranty liabilities.

Posted: April 2, 2013 at 12:07 am

Tesla Motors Inc. says it will report an unspecified “full” profit for the quarter ended March 31, which would be its first quarterly earnings since going public three years ago.

The Palo Alto, Calif.-based maker of electric vehicles previously projected it would post slight first-quarter income, excluding stock compensation expense and warranty liabilities. On that basis, Tesla lost $79 million a year earlier.

Tesla says it now predicts stronger results in the January-March period because it sold 4,750 Model S sedans, exceeding expectations by 250 cars.

The company isn’t expected to report first-quarter results until next month.