Tesla’s ‘super’ quarterElon Musk’s electric-car maker posted an unexpected $104 million profit in the second quarter, defying expectations of a loss. Speculation that it will soon be admitted to the club, which would force index-tracking funds to buy the stock, helped push the company’s turbocharged shares even higher in after-hours trading. (Over the past year, Tesla’s shares have risen a nearly unbelievable 523 percent.) Tesla sold around 91,000 vehicles in its latest quarter, down 5 percent from the same time last year. Its profits were hugely lifted by sales of emissions credits to other automakers, which were nearly four times higher than in the same quarter last year.

Source: New York Times July 23, 2020 11:23 UTC