Tesla’s latest earnings report was a big hit with investors, as demand grew for the new electric vehicle from consumers who want a larger car.
The stock surged 2.6% after the report, up from 1.7% on Thursday, when analysts predicted Tesla’s Model 3 would be sold out before the end of the year.
Tesla’s shares surged 1.4% on the Nasdaq on Friday.
Tesla has seen a lot of demand for its Model 3 electric car, which is scheduled to debut in 2021.
But demand is also building for the smaller Model S sedan, which has not yet been unveiled.
The Model 3 is expected to come out around the same time as the Model S, and Tesla said it has seen sales growth for the first time in a decade.
The company’s shares also jumped in after-hours trading on Friday after Tesla said that it was expecting a second quarter that includes a “significant” amount of new orders from its customers.
The announcement came a day after Tesla’s shares fell 5% on Wednesday, following the company’s earnings report that missed analyst estimates by more than $1 billion.
The earnings report showed a $1.2 billion increase in revenue to $1,926 million, which included a $700 million charge related to its sales of Model S sedans.
The revenue also beat analyst expectations.
Tesla CEO Elon Musk said the company is seeing “huge demand” for the car, and he said it’s looking forward to unveiling a new version of the vehicle in 2019.
The news comes as Tesla has also seen record demand for Model S cars and a growing number of orders for its larger cars.
Tesla said on Thursday that it expects to sell around 9 million Model S vehicles in 2019, compared to 9.5 million for Model X and 9.6 million for the XR.