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Tesla shares up 19 pct. as company sees 1Q profit -
Tesla Motors shares rise 19 pct. as electric car company predicts net profit in first quarter

By The Associated Press

DETROIT (AP) -- Shares of electric car maker Tesla Motors Inc. jumped more than 19 percent Monday after the company said sales are running ahead of schedule and it will post a first-quarter net profit.

The Palo Alto, Calif., company said Sunday night that first-quarter sales have exceeded 4,750 Model S sedans, above prior guidance of 4,500. Previously the company said it would be slightly profitable in the first quarter, excluding noncash option and warrant expenses.

Shares of Tesla were up $7.35, or 19.4 percent, to $45.24 in morning trading Monday. Earlier in the session the shares hit a record high of $45.47.

"There have been many car startups over the past several decades, but profitability is what makes a company real," Tesla co-founder and CEO Elon Musk said in a statement. "Tesla is here to stay and keep fighting for the electric car revolution." ...

...In February, Musk said his company plans to pay back a 10-year, $465 million U.S. Energy Department loan in half the time required by the government.

But last week he hinted that payment may be coming even sooner. He said on Twitter that he is "going to put my money where my mouth is" in a major way. An announcement of some sort is coming on Tuesday...
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