Tesla shares pop 10% despite big Q4 loss

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 (TSLA) 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.

Tesla shares had plunged about 40 percent this year, as of Wednesday's close, amid widespread global selling. Analysts eyed possible production headwinds for its recently launched Model X sport utility vehicle and upcoming Model 3 sedan, as well as the effect of lower gas prices.

Tesla said it delivered 17,478 vehicles in the fourth quarter, including 206 Model X vehicles. Global deliveries rose about 76 percent year over year in the quarter, which CEO Elon Musk called "really quite dramatic" during the company's post-earnings conference call.

Non-GAAP automotive gross margin, excluding credits, came in at 20.9 percent versus expectations for 22.8 percent. Average transaction price fell by about 2 percent.