Hyperdrive
Musk’s Second Blowout Quarter Sends Tesla Soaring, Burns Shorts
- Model Y deliveries to start by March, months ahead of schedule
- Musk expects to hand over at least 35% more vehicles in 2020
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Tesla Inc. delivered a second straight quarter of blowout earnings and speedy execution, extending an unprecedented surge for its heavily shorted stock.
The record revenue Tesla reported Wednesday beat estimates and carried the company to its fourth profit in the last six quarters. Chief Executive Officer Elon Musk again accelerated the introduction of the new Model Y crossover, saying deliveries will start by March, months earlier than initially planned.