On Wednesday, Tesla reported a second-quarter net loss of $30.5 million, or $0.26 a share. That figure was a huge improvement from the loss of $105.6 million, or $1 a share in the same quarter a year ago. Revenue also surged, coming in at $405.1 million from $26.7 million a year ago.
The real news, however, was the company's proclamation that if you exclude costs associated with stock compensation and early repayment of a government loan, Tesla actually made a profit of $0.20 a share. That figure trounced consensus forecasts for a Q2 loss of $0.17 a share.
The company's calculation doesn't comply with generally accepted accounting principles, or GAAP, but the fact that Tesla can be considered in the black when excluding items is something that came as a big surprise to Wall Street. (more)
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