'Tesla may have crossed the line to become self-funding': Here's what Wall Street is saying about Tesla's surprise profit
The electric-car maker earned $2.90 a share, well above the $0.15 loss per share expected by Wall Street analysts. It generated $6.8 billion in sales, beating the $6.3 billion that was anticipated.The Model 3 sedan was a huge driver for the quarter.
"Q3 2018 was a truly historic quarter for Tesla," the company said in a press release. "Model 3 was the best-selling car in the US in terms of revenue and the 5th best-selling car in terms of volume."
The high price of Model 3 helped increase Tesla's gross automotive margin, which resulted in an $881 million free cash flow and $3 billion cash in total for the quarter, the electric-auto maker said. Tesla admitted that its Model 3 weekly average production fell short of its target.
Nearly every analyst was impressed by Tesla's ability to generate a profit. But they have mixed opinions about Tesla's sustainability in the long term.
Here's what Wall Street is saying about the quarter:
Get the latest Tesla stock price here.