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Tesla reports ‘historic’ profitable quarter

Published: Updated:

Tesla on Wednesday reported a “historic” profitable quarter driven by demand for its Model 3 aimed at the mass market.

Tesla reported a net income of $311.5 million on revenue that more than doubled to $6.8 billion in the quarter that ended September 30.

Shares in the electric car maker leapt 13.6 percent to $327.81 in after market trades that followed release of the earnings figures.