Tesla shares pop over 10% on 'better than feared' earnings results, demand outlook

Tesla shares are up implicit 10% successful premarket trading connected Thursday, aft beating connected the top and bottommost lines, contempt mixed expert sentiment astir the electric-vehicle manufacturer's outlook.

Tesla chopped prices astatine the extremity of 2022 and into 2023, a determination that seems to person sparked demand. Musk offered a caveated but optimistic outlook for accumulation successful 2023. "If it's a creaseless year, without immoderate large proviso concatenation interruption oregon monolithic occupation we person the imaginable to bash 2 cardinal cars this year. I deliberation determination would beryllium request for that, too," Musk told an analyst.

"Thus acold successful January we've seen the strongest orders year-to-date than ever successful our history. We're presently seeing orders of astir doubly the complaint of production," Tesla CEO Elon Musk said connected an capitalist telephone Wednesday. Tesla reported automotive gross of $21.3 cardinal successful the 4th fourth and adjusted net per stock of $1.19.

Analysts were mixed successful their effect to Tesla's report. "Something for bulls... and bears," the header from Bernstein's Thursday greeting study read. Bernstein noted that it remained "torn connected TSLA's stock," and reiterated its underperform rating. Morgan Stanley's Adam Jonas was much sanguine, reiterating an overweight standing with a $220 terms target.

"Better than feared," wrote Canaccord Genuity expert George Gianarikas successful a Wednesday nighttime note. Canaccord maintained its bargain standing with a $275 terms target.

Tesla's 5-day show since Jan. 20

Tesla did not contented caller guidance, but noted successful its net merchandise that it planned "to turn accumulation arsenic rapidly arsenic imaginable successful alignment with the 50% compound yearly maturation complaint people we began guiding to successful aboriginal 2021."

CNBC's Lora Kolodny and Michael Bloom contributed to this report.