DETROIT (CBS SF/AP) — Electric car maker Tesla Motors has posted its first quarterly profit in three years.

Tesla reported net income of $22 million, or 14 cents per share, in the third quarter, up from a loss of $229 million in the July-September period a year ago.

READ MORE: UPDATE: Wind-Whipped Wildfire Near Big Sur Grows To 1,500 Acres; Residents Forced To Evacuate; Highway 1 Shut Down

Revenue more than doubled to $2.3 billion.

ALSO READ: 

READ MORE: UPDATE: High Winds Topple Trees; Downs Power Lines; Leave Path Of Destruction In San Jose Neighborhood

Tesla last made a profit in the first quarter of 2013.

The results surprised Wall Street, which forecast a loss of 86 cents, according to analysts polled by FactSet. Analysts had expected revenue of $2.2 billion.

Tesla delivered 24,821 vehicles during the quarter, an increase of 72 percent over the same period last year. The Palo Alto, California-based company said Wednesday it still expects to deliver just under 80,000 vehicles worldwide this year, up from 50,500 in 2015.

MORE NEWS: Pipeline Of Illegal Weapons Shutdown; Four Arrested In San Mateo, Alameda County Raids

TM and © Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.