Why Tesla Stock Soared Today
Shares of Tesla (NASDAQ: TSLA) jumped 11% on Thursday after the electric-vehicle (EV) maker's financial results and guidance helped to assuage investors' growth concerns.
Tesla's revenue climbed 37% year over year to $24.3 billion in the fourth quarter. The auto giant's adjusted net income surged 43% to $3.7 billion, or $1.19 per share. Those figures came in comfortably above Wall Street's estimates, which had called for revenue of $24.2 billion and earnings per share of $1.13.
During a conference call with analysts, Chief Financial Officer Zach Kirkhorn highlighted Tesla's impressive operational performance in a challenging market environment. "On a full-year basis, revenue increased over 50%, operating income doubled, free cash flow increased over 50%, and our margins remained industry-leading," Kirkhorn said.
Source Fool.com
