Tesla Motors Beats Revenue and Profit Estimates, Shares Soar

Tesla Motors (TSLA) announced its financial results for the third quarter after the bell on Wednesday. Earnings per share came in at 2 cents, which beat analyst estimates of a loss of one cent, but was less than last year's 12 cents. Revenue came in at $932 million, beating Wall Street's expectation of $899 million, and significantly higher than the $602.6 million the company had in sales at the same time last year. Tesla delivered 7,785 Model S vehicles during the third quarter and expects weekly production by the end of 2015 to reach 2,000 cars. Tesla also leased 347 cars directly to consumers during the quarter. TheStreet's Scott Gamm reports from New York.