Tesla's profit sets up S&P 500 entry, while Musk pushes for growth

Tesla said it earned net income of $104 million from April to June, or $0.50 per share, marking the first time the company has posted a profit for four straight quarters, a condition for it to be considered for the stock index of the largest U.S. companies. The performance is a major accomplishment for Chief Executive Elon Musk, whose mission of leading the global auto industry into an electric future has frequently been questioned by investors who doubted Tesla's viability. Many analysts believe the rally has been fueled in part by expectations of Tesla's imminent inclusion in the stock index, which would unleash a flood of demand for shares.