Tesla posts profit despite hit from coronavirus


Tesla shrugged off coronavirus-related problems and posted a profitable first quarter.

The electric car maker earned net income of $16 million, while income excluding special items, such as stock based compensation, came in at $227 million. The company lost money on both those measures in the year-earlier quarters. Analysts surveyed by Refinitiv had forecast the company would post a narrow loss due to the shutdowns of its factories in California and Shanghai at times during the quarter and a drop in completed vehicle sales compared to the fourth quarter of last year.
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