MARKET NEWS — Tesla shares saw a 12% jump after the company reported its third-quarter earnings on Wednesday. The electric-car manufacturer was able to bounce back from a tough second quarter, beating Wall Street expectations for earnings per share.
The company reported an earnings-per-share of $0.72, surpassing investors’ projection of $0.60. At the end of the second quarter, Tesla’s chief executive, Elon Musk, said the nearly 50% drop in profits was temporary and due to difficulty competing with cheaper or price-slashed electric vehicles by rival companies such as BYD... theguardian.com
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