Tesla Down 10% Following Earnings Beat

Loading...
Loading...
TeslaTSLA
is taking a beating after reporting its third-quarter earnings beat. The automaker's Q3 EPS came in at $0.12 -- a penny higher than the $0.11 that Wall Street predicted. Earnings per share were up 113 percent from the year-ago period. Tesla has been one of the hottest stocks on Wall Street this year, rising nearly 400 percent since January. That growth is virtually unheard of -- not even
AppleAAPL
was able to compare in its heyday.
NetflixNFLX
is a close contender, however. The stock has performed exceptionally well this year, but its growth has yet to catch up to Tesla's level. Year-to-date, the streaming video giant is up more than 266 percent. Tesla had suffered a minor setback when one of its vehicles
caught fire
, but analysts were quick to
reiterate their positive ratings
. Late last month Tesla announced that it had
expanded its battery supply agreement
with ailing Japanese electronics manufacturer
Loading...
Loading...
PanasonicPCRFY
. This surprised some investors, particularly those who had anticipated a partial (or entire) switch to
SamsungSSNLF
. In another earnings update, Tesla said that it expects its fourth quarter results to be comparable to Q3. Disclosure:
At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ
Loading...
Loading...
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsTechAppleNetflixPanasonicSamsungTesla
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...