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Tesla’s shares soar on results, sales outlook

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From page B5 | February 20, 2014 | 1 Comment

PALO ALTO — Tesla Motors’ stock is soaring after the electric car maker reported strong sales and improved profit margins for the fourth quarter.

The Palo Alto company says it earned 33 cents per share on an adjusted basis, far surpassing analyst expectations of 23 cents per share.

Revenue more than doubled to $615.2 million. Analysts polled by FactSet were anticipating $683.9 million.

Tesla says that the quarter’s sales were the highest in company history, with almost 6,900 of its Model S sedans delivered. The company said Wednesday that it expects to deliver more than 35,000 Model S in 2014, up 55 percent from 2013.

The company’s stock jumped 13 percent in after-hours trading following the announcement.

The Associated Press

The Associated Press

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  • Rich GiddensFebruary 20, 2014 - 1:17 pm

    I have a materialistic lust for a Tesla Model S. I believe Elon Musk is the new Nicola Tesla, the man who made Edison look like an idiot. I believe this California company will rule the roost and soon! I believe their advanced battery and drive train technology will fall further in price and within 10 years there will be cost to coast recharging available. Their batteries will continue to improve too. Simply amazing! I don't have any faith in government but like Francis Bacon I believe the advancement of science and technology is here for mankind's benefit and will render many political arguments moot.

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