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Tesla has 105 million more reasons to celebrate

The electric carmaker reported a $105 million quarterly profit yesterday, giving boosters of the company more occasion to crow.

“The numbers suggest that Tesla has overcome the problems that plagued it in the first half of last year, when it lost more than $1 billion and scrambled to raise capital,” writes Niraj Chokshi of the NYT.

And production of its Model Y compact S.U.V. was ahead of schedule, the company said. Deliveries of the vehicle would begin in the spring, at least three months earlier than expected.

Shares in Tesla rose 12 percent in after-hours trading. The company’s market value is currently $104.7 billion, more than double that of traditional rivals like G.M. and BMW. (It also puts Elon Musk closer to fulfilling the requirements for a big bonus.)