Tesla Reports Huge Profits For Q3 2018
Since it’s foundation around 15 years ago, Tesla has always struggled in terms of making money. In fairness, for a new company, particularly one that makes cars, that isn’t entirely unusual. There will always be ‘teething’ troubles in getting everything into a fully operational state. Despite that though, in terms of money, the figures for the car company in the last few years have hardly been encouraging.
It seems, however, that things may finally be on the up! In a report via the BBC, Tesla has reported that is has earned huge profits in the Q3 2018 period.
Two Year Coming!
The last time that Tesla posted a profit was back in 2016. This, however, represented only the 2nd quarter in the companies history where profit was made. Thanks for faster production speeds though (and actually getting cars to people) Tesla has reported that Q3 profits were $311m. A big step in the right direction.
Can Tesla Sustain This?
While the company making a profit for the quarter is clearly good news, the real important factor is if the company can maintain it. As above, despite this huge profit, this only represents the 3rd time the company has reported a quarterly profit. It needs to start delivering a consistent profit to asway the rumours and concerns surrounding the company.
With Elon Musk due to shortly step down as CEO (following his SEC fraud investigation deal settlement) it will be interesting to see where the company can go from here.
What do you think? – Let us know in the comments!
