Tesla Q4 Earnings Highlights: Revenue Miss, EPS Miss, Model Y A Global Bestseller, Next-Gen Vehicle Update And More
Portfolio Pulse from Chris Katje
Tesla Inc (NASDAQ:TSLA) reported Q4 earnings with a revenue of $25.17 billion, missing the consensus estimate of $25.62 billion. EPS was 71 cents, below the estimate of 74 cents. Automotive revenue increased by 1% YOY, and the Model Y was the best-selling vehicle globally in 2023. Operating margins decreased to 8.2%. Solar deployments were down 59% YOY, while energy storage increased by 30%. Annual production reached a 2 million vehicle run rate. Tesla ended Q4 with $29.1 billion in cash and anticipates slower growth in 2024 due to the next-gen vehicle launch. After the report, TSLA shares dropped 3% in after-hours trading.
January 24, 2024 | 9:27 pm
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Tesla's Q4 earnings report showed revenue and EPS misses, with a notable decline in solar deployments and a decrease in operating margins. The Model Y's success as a global bestseller and the anticipation of a next-gen vehicle launch were positive notes. Shares fell 3% after-hours.
The revenue and EPS misses are likely to negatively impact investor sentiment in the short term, as evidenced by the after-hours stock price decline. The decrease in solar deployments and operating margins may raise concerns about profitability and operational efficiency. However, the success of the Model Y and the progress towards the next-gen vehicle could provide some positive outlook for the company's future.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100