After-Hours Tesla Shares Up On Third Quarter Earnings

Tesla delivered 7,785 cars from July-September – close to the 7,800 predicted, and up 41.5 percent year over year.

Tesla said also its Q3 net loss increased from a year prior to $74.7 million, nearly double last year.

But the company is experiencing growing pains, including having poured the foundation of its Gigafactory in Nevada, growth in Europe and Asia, and now 81 more Superchargers globally, tallied by 124 in the U.S., 82 in Europe, and 23 in China.

Q3 production was cut by 2,000 units during July-September for a longer than anticipated plant closure to retool for Model X, which is now delayed to Q3 2015.

Next year, Tesla has set its production at 50,000 vehicles, including the Model X.

In all, Tesla beat analysts’ $892.1 million forecast with $932 million in revenue, a year-over-year increase of 55 percent.

In after hours trading Tesla shares jumped more than 7 percent to $247.48. The 52-week range for TSLA has been $116.10 to $291.42.

And it’s onward and upward.


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