Tesla delivers $311m quarterly profit

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Reuters

Tesla has reported a quarterly profit for just the third time in its 15-year history.

The electric car-maker made a record $311.5m (£241m) in the three months to 30 September, as the pace of car deliveries accelerated.

The result is a victory for chief executive Elon Musk, who had promised a profit to investors earlier this year.

Tesla’s last profitable quarter came in 2016.

Shares jumped more than 8% in after-hours trading in New York.

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