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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTesla Q4 earnings miss the mark as full-year adjusted net income drops 23%
Tesla (TSLA) reported fourth quarter earnings after the bell on Wednesday that missed expectations as investors looked for a new catalyst to jump-start the stock.
Tesla reported revenue of $25.71 billion vs. $27.21 billion expected (per Bloomberg estimates), up only 2% from a year ago. From a profitability standpoint, the company posted adjusted earnings per share of $0.73 vs. $0.75 expected, with operating income coming in at $1.58 billion, missing estimates of $2.68 billion.
Tesla said operating income was negatively impacted by costs associated with artificial intelligence and other R&D projects as well as lower average selling prices for its current vehicles. The company also said plans for new vehicles and their production would result in "less cost reduction" than it had previously anticipated.
For the year, Tesla reported revenue of $77.07 billion on adjusted full-year net income of $8.41 billion, down 23% from a year ago.
https://finance.yahoo.com/news/tesla-q4-earnings-miss-the-mark-as-full-year-adjusted-net-income-drops-23-210953394.html
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Klarkashton
(2,956 posts)bucolic_frolic
(48,783 posts)Competition will eat him alive.
yaesu
(8,574 posts)WarGamer
(16,415 posts)Actually up 4%... market likes the numbers from the solar and storage arm of the company.
W_HAMILTON
(8,730 posts)Kinda like they did with Trump NFT, Trump stock, Trump coin, etc.
LOL -- good luck with that!
As long as Musk continues to show his ass for the whole world to see and as long as he is associated with the company, it's best days will continue to be behind it.