Tesla reports record revenue and beats on earnings
Publishing timestamp: 2023-01-25 21:25:06
Summary
Tesla reported fourth-quarter earnings for 2022 including revenue of $24.32billion, and earnings per share of $1.19. Automotive revenue amounted to $21.3 billion in three months ending 2022 and included $324 million of deferred revenue related to company's driver assistance systems. Tesla beat on both earnings and revenue, and shares rose more than 5% after hours. CEO Elon Musk said company might be able to produce 2 million cars this year. Automotive gross margins came in at 25.9%, lowest figure in last five quarters. Tesla also said that approximately 400000 customers in North America now have ability to test out its experimental, "FSD Beta" driver assistance system. Tesla also reiterated that its Cybertruck pickup is on track to start production this year in Texas.
Sentiment: POSITIVE
Tickers: TSLA,
Keywords: technology, autos, business news, transportation, breaking news: technology, elon musk, earnings, breaking news: earnings, tesla inc, germany,
Source: https://www.cnbc.com/2023/01/25/tesla-tsla-earnings-q4-2022.html