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- Tesla on Tuesday released first quarter delivery numbers that set a new company record, it said.
- Shares of the company’s stock rose more than 6% in after hours trading.
Tesla on Tuesday said it delivered a record-setting 95,200 cars in the first quarter of 2019.
Total production for the quarter ended June 31 exceeded deliveries, as is common, leaving a little about 7,400 cars in the lurch at the end of the reporting period.
Here are the numbers:
“We made significant progress streamlining our global logistics and delivery operations at higher volumes, enabling cost efficiencies and improvements to our working capital position,” the company said in a press release.
The numbers released Tuesday topped many estimates by Wall Street analysts, despite those expectations being raised by some in recent days. Ahead of the report, Barclays analyst Brian Johnson, long a Tesla bear, upped his delivery estimates to 85,000 from 75,000, still well under the total reported by the company on Tuesday.
Shares of Tesla rose as much 7% following the numbers’ release.
In the past week, Tesla has lost several vice presidents, including its head of European operations, production, and engineering.
SEE ALSO: Tesla loses engineering VP amid end-of-quarter delivery rush
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