Tesla Tops Earnings Expectation, Misses Delivery Number

Tesla Motors Inc. shares rose 3.6% in after hours Wednesday after the electric car maker reported better-than-expected third-quarter earnings but missed its delivery target. Tesla said it had a net income of $3 million, or 2 cents a share, in the quarter. That compares with expectations of a loss of 1 cent, according to analysts polled by FactSet, and earnings of 12 cents a share in the same period a year ago. Revenues rose to $932 million, compared with analyst expectations of $892 million and $603 million in the year-ago period. Shares have gained 54% year-to-date, compared to gains of 9.4% for the S&P 500 index. It said it delivered 7,785 Model S sedans, compared with guidance of 7,800 cars.