Elon Musk, Founder and Chief Engineer of SpaceX, speaks during the Satellite 2020 Conference in Washington, DC, United States on March 9, 2020.

Yasin Ozturk | Anadolu Agency | Getty Images

Tesla shares fell 5% in extended trading on Wednesday after the automaker reported fourth-quarter results that came in stronger than expected.

Here’s how the company performed:

  • Earnings (adjusted): $2.52 per share, vs. $2.36 per share expected by analysts, according to Refinitiv
  • Revenue: $17.72 billion, vs. $16.57 billion expected by analysts, according to Refinitiv

Revenue rose 65% year over year in the quarter, while net income, at $2.32 billion, was up some 760%, according to a statement.

The report comes in the midst of the most important tech earnings season in years. The Nasdaq has suffered its worst January since 2008 as many investors have begun to sour on the promise of high-growth tech stocks.

In 2021, Tesla delivered 936,172 vehicles, an 87% increase versus 2020 when it reported its first annual profit on deliveries of 499,647. Its 2021 deliveries included 308,600 electric vehicles in the fourth quarter. (Deliveries are the closest approximation to sales reported by Tesla.)

CEO Elon Musk and other execs are expected to give a progress update on the company’s long-delayed heavy duty Semi truck, experimental Cybertruck pickup, and plans for driverless vehicle systems and a $25,000 compact car.

With factories being built in Austin, Texas, and Brandenburg, Germany, shareholders also want to know when high-volume vehicle production and deliveries are expected to start at each plant.

Tesla’s guidance may be tempered by supply chain issues, if Musk’s tweets are any indication. On November 29, 2021, he wrote on Twitter, “Oh man, this year has been such a supply chain nightmare & it’s not over! I will provide an updated product roadmap on next earnings call.”

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