Incredible Tesla!Link to article Tesla (TSLA) reported top-line growth in the first quarter over last year and an unexpected profit, even after the coronavirus pandemic forced the company to temporarily halt operations at its flagship Fremont factory and dented demand among automakers across the board late in the quarter.
Shares of Tesla rallied more than 8% to $864.80 each as of 4:29 p.m. ET after results were released. If the gains hold into the regular session Thursday, it would mark the stock’s highest level since late February.
Here were the main metrics expected from the report, compared to consensus estimates compiled by Bloomberg:
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Adjusted earnings per share: $1.24 vs. loss of 37 cents per share expected and loss of $2.90 per share Y/Y
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Revenue: $5.99 billion vs. $5.81 billion expected and $4.54 billion Y/Y
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Free cash flow: -$895 million vs. -$604.4 million expected