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Tesla posts surprise Q1 profit despite coronavirus factory shutdowns

Tesla surprised the Street in its first quarter earnings report, beating on both top and bottom lines, as well as posting its third straight quarterly profit. The electric carmaker was expected to report a loss of 36 cents per share, but it posted a profit of $1.24 per share (excluding items). The company did report negative free cash flow and that it will revisit new guidance for the second quarter. Yahoo Finance’s Myles Udland breaks down the car manufacturer’s earnings report.