NewsBreak: Tesla Reports Big Surprise Profit; Shares Jump

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Investing.com – Tesla (NASDAQ:) shares soared in postmarket trading Wednesday as the electric automaker posted a surprise strong profit when Wall Street was forecasting a loss.

  • Tesla (NASDAQ:) reported 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:) 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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