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Why Is Tesla Stock Surging Premarket Despite Q1 Miss?

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Tesla, Inc. (NASDAQ:TSLA) shares are surging in premarket trading on Wednesday after the electric vehicle maker released its first-quarter results.

Mixed Performance: While the Elon Musk-led company missed expectations on both earnings and revenue for the third consecutive quarter, there were some bright spots. 

The core auto gross margin exceeded analyst estimates, possibly due to one-time recognition of revenue from deferred full self-driving (FSD) sales, according to Gary Black of Future Fund. However, the company also reported a …

Full story available on Benzinga.com

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