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Tesla Posts Huge Q3 Profit, Investors Rejoice: Stock Spikes 6%

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Tesla Motors TSLA just released its third quarter fiscal 2016 financial results, posting earnings of 15 cents per share (accounting for non-stock based compensation and before non-recurring items) and revenue of $2.3 billion. TSLA is a Zacks Rank #4 (Sell), and is up about 6% to $214.50 per share in after-hours trading shortly after its earnings report was released.

Beat earnings estimates . The company reported earnings of 15 cents per share, beating the Zacks Consensus Estimate of a loss of 64 cents per share.

Beat revenue estimates . The company saw GAAP revenue figures of $2.3 billion, topping our consensus estimate of $2.127 billion and gaining 145% year-over-year.

Tesla reported final third-quarter delivery count of 24,821 vehicles, over 300 more than the estimated delivery count the company shared on October 2. Deliveries grew 114% from the prior-year period, comprising of 16,047 Model S and 8,774 Model X vehicles.

In Q3, combined net orders for new Model S and Model X vehicles grew 68%, compared with the same period last year.

Looking ahead, Tesla maintains its guidance of 50,000 new vehicle deliveries for the second half of 2016, with a Q4 plan of just over 25,000 deliveries, despite the challenges of winter weather and the holiday season.

Here's a graph that looks at Tesla's price, consensus, and EPS surprise:

TESLA MOTORS Price, Consensus and EPS Surprise

TESLA MOTORS Price, Consensus and EPS Surprise | TESLA MOTORS Quote

Tesla Motors, Inc. designs, manufactures, and sells electric vehicles and electric vehicle powertrain components. The Company is headquartered in Palo Alto, California.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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