Tesla shares soar 21% as surprise profit answers sceptics

By Akanksha Rana and Tina Bellon (Reuters) - Tesla Inc on Wednesday surprised investors by posting a profitable third quarter, boosted by record deliveries, cost cuts and improved production schedules for its new electric vehicle model, causing shares to soar in after-market trading. Shares rose nearly 21% to $307.12 after hours on the surprise news, crossing $300 for the first time since March 1. Tesla on Wednesday posted a cash balance increase to $5.3 billion (£4.11 billion).

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