Tech »  Topic »  Tesla says its 4Q profit up 59%, expects strong margins

Tesla says its 4Q profit up 59%, expects strong margins


In this April 22, 2021, photo shows a Tesla Supercharger station in Buford, Ga. Tesla reports earnings on Wednesday, Jan. 25, 2023. Credit: AP Photo/Chris Carlson

Tesla on Wednesday posted record net income in the fourth quarter of last year, and the company predicted that additional software-related profits will keep its margins higher than any other automaker.

The Austin, Texas, maker of electric vehicles and solar panels said it made $3.69 billion from October through December, or an adjusted $1.19 per share. That beat estimates of $1.13 that had been reduced by analysts, according to FactSet. The company's profit was 59% more than the same period a year ago.

Revenue for the quarter was $24.32 billion, which fell short of the $24.67 billion that analysts expected.

On Jan. 13, the company cut prices in the U.S. and China, its two biggest markets ...


Copyright of this story solely belongs to phys.org . To see the full text click HERE