Tesla Motors delivered quarterly earnings and revenue that surpassed analysts' expectations on Tuesday.
The company said it finished the quarter with a record of slightly over 5,500 deliveries, including more than 1,000 deliveries to European customers. Some analysts were looking for a higher number.
For the current quarter, Tesla said it plans to deliver close to 6,000 Model S vehicles.
The company reported that gross margins excluding zero emission vehicle credits rose to 21 percent from 14 percent in the previous quarter.
Ben Kallo of R.W. Baird said investors are overlooking the strong margin because they want to see higher deliveries. "They want to see the outlook for deliveries for 2013 raised. And we didn't get the number that were out there, the whisper number," he said.
After the earnings announcement, the company's shares fell 11 percent in after-hours trading. (Click here to track the company's stock following the report.)