Tesla Reports Surprise Profit Of $104 Million In Second Quarter

The result clears the way for the high-flying company, led by Elon Musk, to potentially join the S&P 500.

Tesla Reports Surprise Profit Of $104 Million In Second Quarter

A requirement for the prestigious Wall Street index is four successive profitable quarters.

New York:

Tesla reported a surprise second-quarter profit on Wednesday as it confirmed ambitious targets for 2020 car deliveries despite the coronavirus pandemic. The electric car maker made profit of $104 million, compared with a loss of $408 million in the year-ago period.

The result clears the way for the high-flying company, led by Elon Musk, to potentially join the S&P 500. A requirement for the prestigious Wall Street index is four successive profitable quarters, which Tesla has now achieved.