Tesla Motors posted a much worse-than-expected quarterly loss Wednesday, but its stock spiked after strong deliveries guidance for the current year.
The electric automaker reported a fourth-quarter adjusted loss of 87 cents per share on $1.75 billion in sales. Revenue rose 59 percent from the previous year, while its loss grew from 13 cents a share.
Analysts expected Tesla to post earnings of 10 cents per share on $1.79 billion in revenue, according to a consensus estimate from Thomson Reuters.
Still, Tesla's shares soared more than 10 percent in after-hours trading on the company's positive outlook for this year. Tesla said it expects to deliver 80,000 to 90,000 new vehicles in 2016, noting it is aiming for non-GAAP profitability for the year. Wall Street had expected about 79,000 deliveries for the year, according to StreetAccount.