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Q! 2016

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Tesla (TSLA) surged following Q1 financial results, slightly below expectations, better outlook

Tesla Fremont factory 1

Tesla reported its first quarter 2016 financial results and the company missed earnings expectation slightly with a loss per share of $0.57 vs $0.54, but also beat revenue expectation by a very slight margin with $1.6 billion.

The automaker’s stock (TSLA) still surged because of the announcement of a new build plan advancing its 500,000 units per year guidance by two years to 2018. The stock gained 7% after the announcement, but it is holding up 3% in after-hour trading.

Here are the highlights of Tesla’s shareholders letter:

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Tesla missed guidance with only 14,820 vehicles delivered in Q1 2016, blames Model X supplier parts shortages

Tesla_Model_S_&_X_side_by_side_at_the_Gilroy_Supercharger

When it comes to Tesla, the focus is primarily on the Model 3 these days, but the automaker still needs to keep selling the Model S and X if it wants to bring the vehicle to market. Today, Tesla announced deliveries for the first quarter 2016 and the company missed its delivery goal of 16,000 units, with only 14,820 total deliveries from January to March. It’s the first quarter in which the Model X significantly contributed to the delivery goal with 2,400 units…

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