And while some estimated that in the Q4 of 2018 Tesla may not have made positive earnings, the US company has announced its profits for the second consecutive quarter. A key driver for growth was Model 3 where Tesla hopes the production rate will gradually improve to reach 7,000 vehicles per week on a stable basis.
In the fourth quarter of 2018, the company posted earnings of $139 million (78 cents per share), while in the same period last year it lost $675 million. EBITDA also amounted to $1.93 per share. A very large increase was also seen in revenue for the same period, which amounted to $7.23 billion compared to $3.29 billion in the fourth quarter of 2017.
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The result of the Tesla Q4 2018 positive news on profitability was not delayed even in the stock market, where up to Friday’s closing it reached $312.21, with stock market value reaching $53.62 billion.