Electric car maker Tesla had its best day on the market in more than a decade on Thursday, thanks to the company’s surprisingly solid results.

Shares ended Thursday’s session almost 23% higher, giving Tesla a market value of $836 billion (£644 billion). CEO Elon Musk’s net worth rose by $33.5 billion, widening his lead as the richest person in the world according to the Bloomberg Billionaires Index.

Tesla kicked off its ‘Magnificent Seven’ earnings on Wednesday, with figures on adjusted earnings per share and higher gross margins.

Read more: FTSE 100 LIVE: European shares fall as UK consumer confidence weakens faster than the budget

Adjusted earnings per share of $0.72 were ahead of expectations of $0.60, with adjusted net income of $2.5 billion and free cash flow of $2.9 billion.

Tesla’s closely watched gross margin figure came in at 19.8%, much higher than the expected 16.8%.

Additionally, Tesla said preparations are still underway to launch its more affordable models in the first half of next year.

Musk also said in an earnings call that Tesla’s volume growth next year could be between 20% and 30%.

Bank Lloyds reported a slight decline in profit in the third quarter but still beat expectations, with the bank repeating its full-year guidance.

Pre-tax profit for the third quarter came in at £1.823 billion ($2.36 billion), down 2% from the same period last year.

However, this exceeded consensus estimates of £1.622 billion, according to bank figures.

Speaking in a conference call following the results announcement on Wednesday, Lloyds Group Chief Financial Officer William Chalmers said the bank “continued to see increasing confidence in customer activity”.

Read more: Pound, gold and oil prices in focus: commodity and currency check, October 25

Turning to next week’s autumn budget, Chalmers said the bank looked forward to some “clarity” from the statement.

“It is also our hope that the Budget will be a pro-growth event,” he added.

Shares rose after the results were released on Wednesday, but were flat on Friday morning. Lloyds was the first of Britain’s big banks to report this week, followed by Barclays (BARC.L) and NatWest (NWG.L), which posted strong profit growth.

Shares of Capri Holdings, the parent company of Michael Kors and Jimmy Choo, fell 45% in after-hours trading on Thursday after a US judge blocked the pending $8.5 billion merger with Coach owner Tapestry (TPR).

In a court filing obtained by Yahoo Finance, U.S. District Judge Jennifer Rochon ruled that “antitrust has come into fashion,” arguing that a merger between the two fashion powerhouses “will significantly reduce competition in the market for accessible luxury handbags.”

The story continues