Categories Earnings, Industrials

Tesla’s stock gains on better-than-expected Q4 vehicle deliveries

Shares of Tesla Inc. (NASDAQ: TSLA) were up 3.7% in midday trade on Friday after the company reported fourth quarter 2019 vehicle deliveries that were ahead of analysts’ estimates.

During the quarter, Tesla achieved production of 104,891 vehicles and deliveries of 112,000 vehicles. In 2019, deliveries totaled approx. 367,500 vehicles, which was up 50% compared to the previous year and in line with the company’s guidance.

In the fourth quarter, Tesla produced 17,933 Model S/X vehicles and 86,958 Model 3 vehicles. The company delivered 19,450 Model S/X vehicles and 92,550 Model 3 vehicles during the period.

(Image Courtesy: Afif Kusuma/Unsplash)

This compares to total production of 96,155 vehicles and deliveries of 97,000 vehicles in the third quarter of 2019. The company produced 16,318 Model S/X vehicles and 79,837 Model 3 vehicles during the period while deliveries totaled 17,400 vehicles for Model S/X and 79,600 vehicles for Model 3.

In its third quarter 2019 earnings announcement, Tesla had guided for deliveries in excess of 360,000 for the year.

Tesla said it is focusing on expanding production in the US as well as its new facility in Shanghai. The company has produced almost 1,000 customer salable cars at Gigafactory Shanghai and has commenced deliveries. Tesla also said it demonstrated production run-rate capability of more than 3,000 units per week.

Over the past one year, Tesla’s shares have gained 40%.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips.

Most Popular

HPE Earnings: Hewlett Packard Q1 2024 profit drops but beats Street view

Information technology solutions provider Hewlett Packard Enterprise (NYSE: HPE) on Thursday reported lower earnings and revenues for the first quarter of 2024. Earnings, however, exceeded analysts’ forecasts. First-quarter profit, excluding

After entering FY24 on a high note, Costco is all set to report Q2 results

Costco Wholesale Corporation (NASDAQ: COST) stands out in the retail space for its unique business model that enables the warehouse behemoth to grow store traffic and market share constantly. Currently,

Hormel (HRL) expects continued momentum from its foodservice business in FY2024

Shares of Hormel Foods Corporation (NYSE: HRL) soared over 13% on Thursday after the company delivered better-than-expected earnings results for the first quarter of 2024 and reaffirmed its outlook for

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top