Tesla Jumps After Projecting Up to 78% Growth in Deliveries
- Forecast bolsters investors despite fourth-quarter loss
- Automaker says smaller Model 3 sedan will be revealed March 31
Tesla 4Q Revenue Lighter Than Analyst Estimates
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Tesla Motors Inc. rose in extended trading after the electric-car maker led by Elon Musk forecast global deliveries will rise as much as 78 percent this year, cheering investors who have been concerned that the automaker may not be able to manufacture its vehicles quickly enough.
The outlook for 80,000 to 90,000 deliveries, which was included with news of a fourth-quarter loss in a letter to investors posted on Tesla’s website, topped the average of analyst estimates for 76,200 deliveries. Tesla shares gained as much as 15 percent to $164.90 in extended trading.