Tesla Beats on Top and Bottom Line, Shares Volatile

Tesla just came out with earnings, showing a 2 cent gain versus and expected loss of 1 cent. Revenues came in at $932 Million versus consensus of $890 million, showing a 55 percent gain year over year. Deliveries of the Model S, a key metric, came in somewhat light at 7,785 units, versus an expected 7.800 units. The company see fourth quarter earnings of 30 to 35 cents per share, with expectations of 33,000 vehicles in 2014. Tesla expects a 50% increase in both net orders and deliveries for Model S alone in 2015. Shares of TSLA have moved to the upside after an initial drop in very volatile after hours trade.