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A Tale of Two Electric Car Makers: Tesla Soars, Fisker Flops

Elon Musk, CEO of Tesla Motors, speaks during a Bloomberg West TV interview at the company's headquarters in Palo Alto, Calif., on April 2
Elon Musk, CEO of Tesla Motors, speaks during a Bloomberg West TV interview at the company's headquarters in Palo Alto, Calif., on April 2Photograph by David Paul Morris/Bloomberg

It was the best of times for Tesla Motors. It was the worst of times for Fisker Automotive.

On Wednesday, Tesla delivered its anticipated first-quarter profit and went a step further, hiking its full-year sales forecast to 21,000 cars from 20,000. Shares of Tesla surged in after-hours trading, rising more than 25 percent at the time of this report to $70.28, an all-time high. Revenue in the first quarter rose 83 percent from the prior period to $562 million, and Tesla reported net income of $11.2 million. (The full shareholder letter is here [PDF].)