Made money in the first quarter – E24

The electric car maker released its figures for the first three months of the year on Wednesday after the stock market ended, proving that it kept money while a loss was expected. That causes Tesla shares to rise about five percent after Wall Street.

It is the third consecutive quarter that Tesla is making money, writes CNBC.

• Net income ended at $ 16 million, while in the same period last year it came to less than $ 702 million.
• Operating profit was $ 283 million this year, compared to less than $ 522 million last year.
• Revenue in the first quarter of 2020 was $ 5.99 billion, up from $ 4.5 billion in the first quarter of 2019. That was above the expected $ 5.81 billion, according to Bloomberg expectations.

Earnings per share ended at $ 1.24. This is a sharp increase from a loss of $ 2.9 a share in the first quarter of 2019. A loss of 36 cents a share was expected upfront, according to Refinitiv figures.

The company claims they delivered 88,400 cars in the first quarter.

Tesla had to close its Shanghai plant for about two weeks in February. The company has also had less activity in factories in the United States.

The automaker has still been able to sell cars online and deliver them to customers, according to CNBC.

See the quarterly report here Corona effects are expected to appear more clearly in the second quarter

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