Tesla reports surprise Q1 profit despite COVID-19 uncertainty

Tesla reports surprise Q1 profit despite COVID-19 uncertainty
Tesla reports surprise Q1 profit despite COVID-19 uncertainty

San Francisco (AFP) – Tesla reported a surprise first quarter profit Wednesday on higher car production and deliveries, but refrained from near-term earnings forecasts due to uncertainty about the coronavirus.Shares surged after the electric car company reported profits of $16 million, compared with a loss of $702 million in the year-ago period. Analysts had anticipated a loss.Revenues rose 32 percent to $6.0 billion.Tesla scored large increases in both car production and deliveries and reported progress in ramping up production at its Fremont, California factory and at a newly-opened plant in…

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