Tesla profit tanks in earnings, but the stock pops

Tesla didn’t post the kind of quarter that usually lifts a stock. Profit fell sharply, deliveries declined, and margins stayed under pressure. But after-hours trading told a different story — up 4% initially — one that has less to do with cars and more to do with the future investors still want to believe in. By the numbers, the quarter was bruising. Net income dropped 61% from a year earlier, automotive revenue slid 11%, and total deliveries fell by double digits. Costs rose, operating leverage worked i ...