Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

NewsBreak: Tesla Reports Big Surprise Profit; Shares Jump

Published 10/23/2019, 05:03 PM
Updated 10/23/2019, 05:05 PM
© Reuters.

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.
  • Latest comments

    Great new! Glory to God!
    I guess your doom and gloom reporting was wrong.
    Its a sell.
    Keep believing that. I would love to see your face when in a decade you will see what returns people that own Tesla stock now will have gotten.
    Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
    Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
    Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
    It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
    Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
    © 2007-2024 - Fusion Media Limited. All Rights Reserved.