Tesla has returned to profitability for the first time in three years. After shares fell 16% through the year, the company’s latest quarterly earnings report sent the stock back up 4%.
The company generated $139 million in sales of California zero emission vehicle credits, which are a much higher profit margin business than automobiles. Tesla earned $22 million in profit, up from a $230 million loss a year ago.
Revenue doubled to $2.3 billion, and Tesla has $3 billion in cash and cash-equivalents.
Tesla says that all of its vehicles produced moving forward will include the hardware necessary for fully autonomous driving with safety levels greater than human drivers.