Tesla News: TSLA share raises 5% on deliveries

<p>Tesla (NASDAQ: TSLA) news for Friday about strong deliveries during the first quarter of 2020 has TSLA stocks on the rise.

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A press release from Tesla reveals that the company delivered a total of 88,400 vehicles during the period. This is good news for TSLA shares, as analysts only expected the electric car company to deliver 79,908 vehicles.

According to the press release from Tesla, these are the best deliveries during the first quarter that the company has ever seen. Deliveries during the quarter include 12,200 Model S / X and 76,200 Model 3 / Y vehicles.

To follow this, the total number of cars produced during the quarter was 102,672. It comes from 15,390 S / X vehicles and 87,282 Model 3 / Y vehicles.

The Tesla press release mentions this about the deliveries that increase the TSLA share.

Production of Model Y started in January and deliveries began in March, well ahead of schedule. In addition, our factory in Shanghai continued to achieve record high production levels, despite significant setbacks. ”

Telsa also points out that these figures may be off, but only slightly. The company estimates that the difference between these figures and the final result for Q1 can vary by only 0.5% or more.

Tesla does not provide any other results for the first quarter of the latest update. Instead, the company says it will release net income, cash flow results and other figures when the earnings report for the first quarter of 2020 comes out.

The TSLA share increased by 4.61% as of Friday afternoon and increased by 5.63% since the turn of the year.

At the time of writing, William White had no position in any of the above securities.