Tesla’s stock soars over 20% on profit, sales news


Tesla’s (s TSLA) stock is soaring Monday morning on news late Sunday night that the company will turn its first profit in the first quarter of 2013, for both non-GAAP and GAAP (generally accepted accounting principles). Tesla had already given guidance last month that it expected a non-GAAP profit next quarter, but now Tesla says it will be profitable in Q1 for GAAP, as well, regardless of non-cash options and warrant-related expenses.

The bump in guidance was due to Tesla on track to ship 250 more Model S cars than expected, bringing the quarter’s total to 4,750 (vs. the prior estimate of 4,500). Tesla is making 400 Model S cars per week.

As of 8:20 AM PST, Tesla’s stock had hit $46.18, up 22 percent from its opening price. That’s the highest price of Tesla’s stock since it went public in the Summer of 2010. That’s a 5-day chart for…

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