Tesla rises as company ekes out a Q1 profit.
vehicles in the first quarter of 2020, including: combined deliveries of 76,200 Model 3 sedans and Model Y cross-over SUVs, and combined deliveries of 12,200 of the older and more expensive Model S and X vehicles.
In Q4 2019, Tesla reported its second consecutive GAAP-profitable quarter, but the company also lost $862 million for the full year. Last quarter, revenue came in at $7.38 billion -- Q4 revenues are typically the highest of the year because of seasonal factors -- and Q1 2019 revenues were $4.54 billion.Government health orders, meant to curb the spread of the virus, forced Tesla to suspend production at its new car plant in Shanghai for around two weeks in February. By the end of March, Tesla would face an even longer restriction in the U.S.
The company also suspended production temporarily at its battery plant outside of Reno, Nevada, and at its facility in Buffalo, New York, where it makes components for its batteries and its electric vehicle charging stations, along with some solar products.
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