Tesla shares soar on surprise profit

Tesla was back in the black during the third quarter of 2019.

The company on Wednesday posted a surprise profit of $342 million. Wall Street had expected the company would post a net loss as big as $256.9 million.

Tesla shares soared by 18% in after-hours trading.

Tesla brought in $6.3 billion in revenue — about on par with what analysts predicted.

Tesla already revealed the total number of cars the company delivered last quarter, which came in at about 97,000. That fell short of the 100,000 mark that CEO Elon Musk had hoped to hit — but it was still a record for the company, outpacing the 95,200 and 63,000 cars it delivered in the two previous quarters.