Tesla Shares Rise on Beat of Q4 Vehicle Delivery Estimates

Tesla Shares Rise on Beat of Q4 Vehicle Delivery Estimates

The total allowed the EV maker to exceed the low end of guidance for vehicles delivered for the year.

Tesla delivered 112,000 vehicles to customers in the fourth quarter, the company reported Friday morning, ahead of consensus estimates for 106,000 vehicles, 

The Q4 total meant Tesla delivered 367,500 vehicles for the year, allowing the EV maker to beat the low end of guidance for total deliveries in 2019, which it had earlier put at between 360,000 and 400,000.

Shares were rising 1.3% to $435.89 in pre-market trading amid a a significant decline in stock futures following the U.S. drone strike that killed Iranian general Qassem Soleimani.

Delivery estimates are a closely-watched metric for Tesla as it continues to ramp up production, including in China, where it will soon began shipping its first cars made in the country to customers there.

Tesla is scheduled t report its full fourth quarter results on Jan. 29. 

Provided by: The Street Retirement

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