Tesla (TSLA) saw shares climb higher on Wednesday after the company released third quarter results that significantly beat what analysts had expected.
According to a Thomson Reuters consensus estimate, Tesla earned 71 cents a share on an adjusted basis in the third quarter on $2.3 billion in revenue while analysts expected a loss of 54 cents per share on $1.98 billion in revenues.
Earlier this month Tesla also had announced record delivery and production numbers and beat second-quarter delivery and production numbers by 70 percent and 37 percent, respectively.
Going forward, Tesla forecasts 50,000 new vehicles in the second half of 2016, with a fourth-quarter plan of just over 25,000 deliveries.
Tesla is getting ready for a shareholder vote on November 17th, over its planned acquisition of SolarCity.
Disclaimer: We have no position in Tesla Motors Inc. (NASDAQ: TSLA) and have not been compensated for this article.