Tesla (TSLA) Beats Street with Q1 Deliveries of 185,000

Tesla (NASDAQ: TSLA) announced that in the first quarter, the produced just over 180,000 vehicles and delivered nearly 185,000 vehicles, beating the consensus of 174,000.

"We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity," the company stated. "The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production."

"Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles."

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