You need to enable Javascript to play media on Bloomberg.com Play Musk Delivers on Promise For Tesla Profitability Tesla Motors Inc. (TSLA), the maker of electric cars run by billionaire Elon Musk, surged as much as 26 percent after posting its first profit and beating estimates on sales of luxury Model S sedans. Tesla gained 23 percent to $68.36 at 11:45 a.m. New York time after reaching $70.48, a record intraday price. Tesla's market capitalization reached about $7.9 billion, exceeding $7.8 billion for Turin, Italy-based Fiat SpA (F), the majority owner of Chrysler Group LLC. First-quarter net income totaled $11.2 million from a loss of $89.9 million a year earlier, Palo Alto, California-based Tesla said in a statement on its website yesterday. Excluding some items, the profit was 12 cents a share, compared with a year-earlier loss of 76 cents. The average estimate of 10 analysts surveyed by Bloomberg was for a profit of 4 cents. 'The stock is trading like it's ...