Tesla (TSLA) Stock Rallies in After-Hours Trading Despite Missing Expectations

Tesla Motors (TSLA) stock is higher in after-hours trading on Tuesday even though the electric car maker's third quarter 2015 financial results missed earnings and revenue estimates.
By U-Jin Lee ,

NEW YORK (TheStreet) -- Tesla Motors (TSLA) - Get Report  stock is jumping 4.93% to $224.32 in after-hours trading on Tuesday even though the electric car maker's third quarter 2015 financial results missed earnings and revenue estimates. 

For the latest quarter, the company reported a loss of 58 cents a share on revenue of $1.24 billion. 

Analysts had forecast the company to report a loss of 50 cents a share on revenue of $1.26 billion.

In the third quarter of fiscal 2014, the company earned 2 cents a share on revenue of $932 million. 

Overall, the company said that global Model S orders increased by more than 50% year-over-year.

During the latest quarter the company delivered 11,603 new vehicles. In the fourth quarter, it forecasts it will build 15,000 to 17,000 and deliver 17,000 to 19,000 vehicles. 

So far, Tesla over a month ago lowered its 2015 delivery guidance to between the range of 50,000 and 55,000 vehicles from 55,000 vehicles. 

Tesla again decreased its delivery expectations for the full year. It now expects to deliver between 50,000 to 52,000 vehicles.

Based in Palo Alto, CA, Tesla Motors designs, develops, manufactures, and sells electric vehicles, electric vehicle powertrain components, and stationary energy storage systems in the U.S., China, Norway, and internationally.

Separately, TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

We rate TESLA MOTORS INC (TSLA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its robust revenue growth -- not just in the most recent periods but in previous quarters as well. At the same time, however, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity.

You can view the full analysis from the report here: TSLA

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