TSLA Tesla Inc

By Matt Grossman

Tesla Inc. shares rose in the first hour of trading Thursday morning after the Palo Alto, Calif.-based car maker reported stronger than expected auto deliveries in the second quarter despite the coronavirus pandemic.

Tesla stock climbed 7.9% to nearly $1,208 after closing trading on Wednesday at $1,119.63.

Earlier Thursday, Tesla said it had delivered 90,650 cars in the quarter, more than the 72,000 that Wall Street was expecting according to the FactSet analyst consensus.

The result came despite a coronavirus-related temporary closure at Tesla's primary production plant in California. The delivery figure represented a 4.9% decline from the level in last year's second quarter.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

July 02, 2020 10:59 ET (14:59 GMT)

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