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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