You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Red Sox Live

2

0

▲  5th Inning 2 outs

Market Movers

Tesla Motors posts profit for first time

Tesla Model S electric sedan, shown in 2012.

Reuters/File

Tesla Model S electric sedan, shown in 2012.

Continue reading below

Tesla Motors Inc. posted its first quarterly net profit since it was founded a decade ago. The Palo Alto, Calif.-based company, which makes electric vehicles, reported first-quarter net income of $11.2 million, or 10 cents per share, compared with a loss of 86 cents per share in the same period a year earlier. The company said it exceeded its targets for deliveries, expanded its gross margin, and improved execution. In the first quarter, Tesla said it produced 400 or more Model S vehicles per week for a total of more than 5,000. It had originally expected to produce 4,500.

Loading comments...

Wake up with today's top stories.

Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
or
Please enter a valid email
BostonGlobe.com will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com