Investing.com -- Tesla rallied 21% Thursday to remain on track for its best day since 2013 after the electric maker reported stronger-than-expected results and also delivered a strong delivery outlook for 2025.
Tesla Inc (NASDAQ:TSLA) rose 21% in recent Thursday trading.
Tesla reported late-Wednesday third-quarter results that beat Wall Street estimates, driven by a jump in margins, prompting positive remarks from many on Wall Street.
"Last night, we saw this all important metric [gross margins (Auto ex credits)] spike back to 17.1% handily beating the Street's estimate at 15.1% and now appearing to be on a trajectory back into the 20% level in 2H2025," Wedbush said in a Thursday note.
The highlight of the night, however, was Tesla delivery growth for 2025 of 20%-30% that handily beat "whisper Street numbers in the 10%-12% heading into the print," it added.
On the post earnings call, meanwhile, Tesla CEO Elon Musk touted a myriad of growth drivers for the EV maker over the next few years, including a more affordable sub $30,000 EV; autonomous and full self driving and AI strategy rolled out, further plans to reduce costs, Cybercab production and Semi adding to the company's product portfolio and growing energy and storage business adding to the Tesla growth story, Wedbush said.
