In his quarterly earnings letter to shareholders on Wednesday, Tesla CEO Elon Musk announced that "Tesla reached profitability in the first quarter of 2013 for the first time in our 10-year history."
Not only did the electric car company exceed analyst expectations, but Musk said (PDF) Tesla even outdid its own expectations for deliveries and gross margin. The company reported adjusted earnings of 12 cents per share on revenue of $562 million, which is far higher than the expected 3 cents per share. Its profit was $11 million after charges.
Tesla's total revenue for the first quarter … Read more