Tesla Motors, Inc. (TSLA) shares are up $11.74 to $234.30 in after-hours trading Wednesday after the company reported first-quarter 2016 earnings results.
The electric car maker posted earnings loss of ($0.57) per share on revenues of $1.60 billion, up 45.1% from a year ago. Analysts were expecting EPS loss of ($0.67) on revenues of $1.60 billion.
In a shareholder letter released after the close of trading, Tesla said that despite recent production concerns, it is “on track” for production and delivery of its Model 3 mass-market car in late 2017. It also affirmed its previous guidance of 80,000 to 90,000 deliveries for full fiscal year 2016 for its current Model S and X lineup.
TSLA currently prints a one year return of about 0.79% and a year-to-date loss of around 3.20%.
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Fitbit Inc. (FIT) reported first quarter non-GAAP EPS of $0.10 after the closing bell Wednesday, compared to the consensus estimate of $0.03. Revenues increased 50.1% from last year to $505.4 million. Analysts expected revenues of $440.03 million. Net income came in at $11 million, or five cents a share, compared with $48 million, or 22 cents, in the year-earlier period.
The San Francisco-based fitness tracker said it sold 4.8 million devices during the quarter, compared to 3.9 million in the same period from last year. 47% of Q1 sales were of Fitbit’s two new products, Blaze, a smartwatch, and fitness tracker Alta.
In terms of guidance for Q216, Fitbit expects EPS to be in the range of $0.08 to $0.11, significantly below estimates of $0.26 per share. The company said high investments in R&D and marketing would weigh on margins in the near term.
FIT is currently down $1.95, or 11%, to $15.15 on 15.34 million shares.
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Taser International Inc. (TASR) gained $0.43 to $18.09 in after-hours trading after it reported fiscal-first quarter earnings.
The electrical weapons manufacturer handed in earnings of $0.06 per share on revenue of $55.5 million, beating Wall Street estimates of $0.04 per share on revenue of $51.82 million.
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