알파경제 - Tesla Surpasses Q3 Profit Expectations, Shares Jump 9% in After-Hours Trading

(Photo= Yonhap news)

[Alpha Biz= Reporter Kim Sangjin] American electric vehicle manufacturer Tesla reported third-quarter results that exceeded market expectations, leading to a nearly 9% surge in its stock during after-hours trading.

On October 23 (local time), Tesla announced third-quarter revenue of $25.182 billion and earnings per share (EPS) of $0.72. While the revenue fell short of Wall Street's average forecast of $25.37 billion, the EPS exceeded the expected $0.58.

Tesla also indicated an anticipated increase in total vehicle deliveries for the year, projecting a 50% rise in production for the next year compared to last year. The company reiterated plans to start production of a more affordable model in the first half of next year.

The stronger-than-expected results led to a significant boost in Tesla's stock price. Although shares closed down 1.98% at $213.65 during regular trading, they surged 9.12% in after-hours trading as of 5:15 PM New York time.

알파경제 Kim SangJin (letyou@alphabiz.co.kr)