A Tesla Model 3. Image source: Tesla.
Key Points
- Deliveries during the period were well above analyst estimates.
- The record quarter captures Tesla’s incredible momentum, with deliveries up 73% year over year.
- The strong deliveries should make it easy for Tesla to achieve its full-year vehicle delivery guidance.
Shares of electric car company Tesla (NASDAQ:TSLA) jumped on Monday. The stock was up 3.9% as of 10 a.m. EDT.
The growth stock‘s gain was driven by the company’s better-than-expected third-quarter vehicle deliveries. Record deliveries during a challenging operating environment put the spotlight on the company’s strong execution recently.
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