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NewsBreak: Tesla Reports Big Surprise Profit; Shares Jump

Published 10/23/2019, 05:03 PM
Updated 10/23/2019, 05:05 PM
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Investing.com - Tesla (NASDAQ:TSLA) shares soared in postmarket trading Wednesday as the electric automaker posted a surprise strong profit when Wall Street was forecasting a loss.

  • Tesla (NASDAQ:TSLA) reported earnings of $1.91 per share. Analysts were expecting a loss of 45 cents per share, according to forecasts compiled by Investing.com.

  • Sales came in at $6.3 billion, below the consensus estimate of $6.47 billion.

    • Shares of Telsa rose more than 14% in after-hours trading.

    • The company said the rollout of its Model Y vehicle is ahead of schedule, and production is expected to start in the summer of 2020.

  • Tesla (NASDAQ:TSLA) announced on Oct. 2 that it delivered 97,000 electric vehicles in the third quarter, just shy of forecasts. Of those delivered, 79,600 were the in-demand Model 3.

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