Tesla earns $46 million in Q4 amid rosy outlook
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Tesla Motors is focused on rapid growth, as outlined at the Detroit Auto Show. The company is making strides both here in the U.S., as well as abroad. VPC
The electric car maker has already signaled strong sales, but will its stock price hold up?
Tesla Motors said it earned $46 million in the fourth quarter, or 33 cents a share, well above analysts' estimates.
Tesla has previously signaled that it expects a successful quarter. Analysts are expecting a consensus estimate of 20 cents a share, according to Yahoo Finance, compared to a year ago when it lost 65 cents a share.
Tesla reports having sold 6,892 of its Model S sedans during the quarter.
The Model S is an all-electric luxury sedan that has more range per charge than any other in its most premium version, as rated by the Environmental Protection Agency.
Share prices hit a record Tuesday as Tesla surged to an intraday high of $205.72 before closing at $203.70, up $5.47 or 2.8% from Monday's closing price of $198.23. The boost was helped not only by earnings anticipation, but a report from the San Francisco Chronicle that CEO Elon Musk met with Apple's acquisitions chief last spring, although it is unknown what was discussed.
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