Tesla Motors posts first profit in 10-year history

  • Electric car manufacturer Tesla posted its first profit in its decade-long history on Wednesday.

    The firm made $15 million in the first quarter of the year on the back of strong sales of its Model S electric sedan.

    Total revenues sat at $562 million, compared to $30 million reported in the same period last year.

    Meanwhile, adjusted earnings per share hit 12 cents, higher than the expectations of Wall Street analysts.

    Shares in the company were up by more than 16 percent in after-hours trading.

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