Tesla Motors profit for the third quarter exceeded expectations despite the onset of Uber and Model X security problems

Tesla Motors made a profit in the third quarter of 2016, contrary to analysts' predictions. The value of the shares of the company Ilona Mask rose by 6%. This is the second time in history when Tesla Motors reports a profitable period.

Automotive business Ilona Mask is constantly haunted by problems. Since its inception, Tesla Motors has demanded investments, and the disruption of delivery times for cars, the queue for new Tesla and the security problems of the new Tesla Model X did not inspire confidence in the financial community.

Tesla Motors data for Q3 2016
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But instead of a loss of 52 cents on each stock, Musk was able to bring Tesla Motors to a profit of 72 cents / share. The company's revenues almost doubled over the same period last year and amounted to $ 2.15 billion instead of the expected $ 1.98 billion.

During the third quarter, more than 25,000 Tesla cars were produced and Musk is confident that the company will be able to fulfill its plans for the production and supply of a total of 50,000 cars for 2016.

The last presentation could positively affect the company's business, where the head of Tesla Motors presented to the public a new, improved autopilot system, which will later be equipped with all Tesla cars. In addition, SpaceX is doing quite well, despite the rocket explosion at the launch pad on the first of September of this year.

On the other hand, on the heels of Mask comes Uber and Lyft taxi services.

The other day, Uber demonstrated one of its developments for freight traffic - the Otto autopilot . Unlike the Tesla autopilot, which requires you to keep your hands on the wheel, the Otto in a highway is a fully autonomous system and allows the driver to completely leave the seat and work in the cockpit with his own business. Also, Uber has already launched the Uber Freight service page for organizing transportation.

Mask on the success of Uber reacted quite tough. Understanding the level of competition in the robotic segment, the head of Tesla Motors sees the future of its products as one of the links in the autonomous transport system being built. In fact, Musk is working to ensure that Tesla cars in the future push the development of Uber and Lyft and occupy their niche in the market of chartering and group use of transport, allowing Tesla owners not only to use their own vehicle, but also to profit from it. “This is not a Tesla fight against Uber, these are people against Uber,” said Musk.