Tesla (TSLA) Stock Rallying in After-Hours Trading Following Earnings Release

NEW YORK (TheStreet) -- Shares of Tesla Motors  (TSLA) were rallying, higher by 3.61% to $238.74 in after-hours trading on Wednesday, after the electric car maker reported its first quarter earnings.

The company posted a loss of 36 cents per share on $1.1 billion for the quarter. Both figures topped analysts' estimates.

Analysts were expecting the company to post a loss of 50 cents per share on revenue of $1.04 billion for the period, according to analysts surveyed by Thomson Reuters.

The company said it delivered 10,045 Model S vehicles in the first quarter, in-line with the company's April forecast of 10,030 vehicles.

Tesla plans to produce 12,500 vehicles in the second quarter.

The company designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components. It owns its sales and service network.

Insight from TheStreet's Research Team:

Jim Cramer commented on Tesla in a recent post on RealMoney.com. Here is what Cramer had to say about the stock:

I like it where people extrapolate news from one company and marry it with another.

But if you want to know what's got people riveted, it's Tesla (TSLA), which reports this week and has been on a real tear ever since the buzz began about the ancillary battery business. It's a good thing to end on Tesla, as it is perhaps the most anti-Buffett stock I have ever seen. Remember, Buffett likes to buy value. If you buy shares in Tesla, you are in the anti-Buffett camp and you need to know that. Tesla reports Wednesday and it's become one of the greatest battlegrounds I have ever seen as CEO Elon Musk seems to have as many enemies as friends and the stock's part of the Musk war. Someone's going to be a genius come Wednesday, and I remain distinctly on the sidelines, not a view, just an observation.

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