Tesla Rises on Strong 2Q Deliveries
July 02 2020 - 11:14AM
Dow Jones News
By Matt Grossman
Tesla Inc. shares rose in the first hour of trading Thursday
morning after the Palo Alto, Calif.-based car maker reported
stronger than expected auto deliveries in the second quarter
despite the coronavirus pandemic.
Tesla stock climbed 7.9% to nearly $1,208 after closing trading
on Wednesday at $1,119.63.
Earlier Thursday, Tesla said it had delivered 90,650 cars in the
quarter, more than the 72,000 that Wall Street was expecting
according to the FactSet analyst consensus.
The result came despite a coronavirus-related temporary closure
at Tesla's primary production plant in California. The delivery
figure represented a 4.9% decline from the level in last year's
second quarter.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
July 02, 2020 10:59 ET (14:59 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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