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Tesla Rekt Short-Sellers, Kills Q4 2019 Results By Beating Wall St. Estimates

Tesla Inc. stock rose late Wednesday after quarterly earnings reported by the Silicon Valley car maker beats Wall Street expectations and said Model Y production began this month. Tesla reported fourth-quarter revenue of $7.38 billion. By contrast, Wall St. was expecting Tesla to report $7.047 billion in revenue.

In the fourth quarter Tesla reported earnings per share of $2.14, smashing expectations from Wall St. By comparison, Wall Street was expecting Tesla to post a $1.62 gain per share for Q4 2019.

“In 2019 revenue growth was positively impacted by a strong increase in vehicle deliveries. Revenue growth was offset by higher lease mix, Model 3 becoming a larger part of our mix, introduction of Standard Range Model 3, and adjustments to vehicle pricing” –– Tesla

“These changes have resulted in a reduction to the average selling price relative to 2018” -Tesla

Tesla stock is presently trading at 618.48 +37.49 (6.45%), after market.

Revenue rose to $7.38 billion from $7.23 billion a year earlier. Analysts had expected revenue of $7.02 billion, according to IBES data from Refinitiv.

“For 2020, vehicle deliveries should comfortably exceed 500,000 units. Production will likely outpace deliveries this this year” – Tesla

Developing story…..

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