Tesla Stock Soars on Strong Earnings Report

Tesla Inc. shares surged in after-hours trading following the release of impressive quarterly earnings that beat Wall Street expectations. The electric vehicle manufacturer reported revenue of $25.2 billion, up 18% year-over-year. CEO Elon Musk expressed optimism about the company's future, highlighting strong demand for the Model Y and progress on the Cybertruck production ramp-up. The company also raised its full-year delivery guidance to 1.8 million vehicles. 'We're seeing record order volumes across all our products,' Musk said during the earnings call. 'The future of sustainable transportation has never looked brighter.' Analysts were particularly impressed by Tesla's improving profit margins and the company's ability to maintain pricing power despite increased competition in the EV market.