The announcement about the just-ended first quarter pushed Tesla Motors (TSLA) shares nearly 16% higher.

 

"There have been many car startups over the past several decades, but profitability is what makes a company real," co-founder and CEO Elon Musk said in a late Sunday statement. "Tesla is here to stay and keep fighting for the electric car revolution."

The company expected to sell 4,500 units of the Model S in the quarter. But sales surpassed the 4,750-unit mark this weekend. In response, the company amended its first-quarter guidance.