Tesla, Inc. (NASDAQ: TSLA) reported its most recent quarterly results after the closing bell on Wednesday. The electric vehicle (EV) giant said that it had $0.80 in earnings per share (EPS) and $10.74 billion in revenue, compared with consensus estimates that called for $1.01 in EPS and $10.32 billion in revenue. The fourth quarter from last year had $0.41 in EPS and $7.38 billion in revenue.
Revenues increased 22.5% a quarter over quarter basis, and 46% on a year over year basis. The reason for this substantial growth was from vehicle deliveries as well as growth in other parts of the business. Also, vehicle average selling price (ASP) declined by 11% compared to the same period last year as Tesla’s product mix continues to shift from Model S and Model X to the more affordable Model 3 and Model Y.
In the fourth quarter, operating income increased to $575 million, resulting in a 5.4% operating margin.
For the quarter, automotive sales increased 46% year over year to $9.31 billion, with a gross margin of 24.1%. Total deliveries came in at 180,667 for the quarter and 499,550 for the full year.
Separately, the company reported solar deployment of 86 MW and storage deployment of 1,584 MWh, year over year increases of 59% and 199%, respectively.
On the books, Tesla reported cash and cash equivalents of $19.38 billion at the end of the fourth quarter, versus $6.27 billion at the end of the previous year.
Shares of Tesla closed Wednesday at $864.16, in a 52-week range of $70.10 to $900.40. The consensus price target is $553.28. Following the announcement, the stock was down 4% at $829.38 in the after-hours trading session.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
