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Tesla's April 1 Surprise: A Profit

Stcok price explodes on the news

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    NEWSLETTERS

    esla Motors is forecasting profitability this morning, and Wall Street is responding by revving its collective engine. Shares of Tesla (TSLA) are higher by nearly 20 percent as I write this, a huge bump for the Bay Area electric car maker. Scott Budman reports. (Published Monday, Apr 1, 2013)

    This would make a good April Fool's joke, if it weren't for the billions of real dollars changing hands.

    Tesla Motors is forecasting profitability this morning, and Wall Street is responding by revving its collective engine. Shares of Tesla (TSLA) are higher by nearly 20 percent as I write this, a huge bump for the Bay Area electric car maker.

    While Wall Street was forecasting a loss of 7 cents per share, Tesla just called full profitability for the first quarter. In addition, the company says it sold 4,750 Model S cars over the last three months, also beating expectations.

    It's worth noting that Tesla CEO Elon Musk has been Tweeting about "big news" coming Tuesday.

    Can he possibly top this?

    Scott is on Twitter: @scottbudman