Tesla beats quarterly revenue expectations on robust demand

The EV company, which closed the session up 1.2 percent to $738.20, left its multi-year delivery outlook unchanged.

Tesla Inc. reported a higher-than-expected seventh consecutive quarter of profit on strong demand for its top-selling Model 3 sedan but left its multi-year outlook for 50% growth in deliveries unchanged. Profit at Elon Musk’s EV company rose to 93 cents a share on an adjusted basis, the Palo Alto, California-based automaker said Monday. That beat the 80-cent average of analysts’ estimates. The results kick off a year in which Tesla will be expanding operations on three continents, including completing new factories in Austin, Texas, and Berlin. The company indicated it expects 50% growth in deliveries “over a multi-year horizon,” which is consistent with its previous wording.