(Reuters) – Tesla Inc’s (TSLA.O) outspoken CEO Elon Musk on Wednesday called sweeping U.S. stay-at-home restrictions to curtail the coronavirus outbreak “fascist” as the electric carmaker posted its third quarterly profit in a row.
FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the automobile awards “Das Goldene Lenkrad” (The golden steering wheel) given by a German newspaper in Berlin, Germany, November 12, 2019. REUTERS/Hannibal Hanschke
His remarks overshadowed an otherwise successful quarter that took many investors by surprise as automaker peers were hit by a slump in consumer demand and forced factory shutdowns.
Shares of the company were up 8.8% at $871 in extended trade.
Tesla’s profitable quarter comes just a day after Detroit-based rival Ford Motor Co (F.N) reported a $2 billion first-quarter loss and forecast losing another $5 billion in the current quarter as the coronavirus pandemic hits demand.
General Motors Co (GM.N) on Monday…
Source Reuters Tech News
Source link
