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Tesla posts quarterly profit

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Reuters
Last Updated : Oct 25 2018 | 2:10 AM IST

Tesla Inc made good on Chief Executive Officer Elon Musk's promise that it would turn a profit in the third quarter.

The Silicon Valley electric carmaker said it made a net profit of $311.5 million in the quarter, still tiny when compared to the billions of dollars the company has burned through as it ramps up production of its Model 3 sedan.

Tesla also said it had free cash flow of $881 million.

(Reporting by Sonam Rai in Bengaluru and Alexandria Sage in San Francisco; Editing by Anil D'Silva)

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Oct 25 2018 | 1:55 AM IST

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