Tesla reported deliveries above estimates, sending the company’s shares up by approximately 5%.

Tesla shares rose by approximately 5% on Friday after the U.S. electric vehicle manufacturer reported deliveries above analysts’ estimates for the third quarter, CNBC reports.

The stock market’s movement came as a direct reaction to the company’s commercial results. Deliveries are one of the main indicators monitored by investors because they provide insight into demand for Tesla vehicles and the pace of the manufacturer’s operations.

The data reported for the third quarter exceeded market expectations, supporting the stock’s rise in Friday’s session. The increase in shares reflects investors’ reaction to the difference between the reported result and analysts’ earlier estimates.

Tesla is one of the world’s leading electric vehicle manufacturers, and its quarterly results are closely watched by financial markets and the automotive industry. Delivery trends can influence both the company’s valuation and the outlook for future sales and revenue. The available information does not specify the exact number of vehicles delivered or the estimates used for comparison.