TESLA Even in tough times for the electric car industry, the company reported record quarterly revenues of $24.3 billion (£19.8 bn) in the fourth quarter of 2022. That’s a 37% increase over last year and above Wall Street expectations. The company remains profitable, which is rare for electric vehicle manufacturers. EPS - earnings per stock, Tesla rose 40% in Q4 to $1.19 (£0.96). On a year-on-year basis, net income is up 85% in 2022 to $14.1 billion (£11.3 bn). The company was able to cope relatively well with supply chain issues. Production was up 44% to 439,701 vehicles. Deliveries were up 31% to 405,278 in the fourth quarter and up 40% year-on-year to 1.31 million units. Tesla expects demand to be twice as fast as production. The CEO’s comment, along with his claims of lower unit production costs, allayed concerns about competition and margins. Musk said Tesla could produce around two million vehicles this year, above the company’s conservative forecast of 1.8 million. In the end, his claims trumped negative investor sentiment and, combined with Tesla’s undervalued stock price, caused stocks to rise by nearly 25% since the report. This was followed by upgrades from analysts and target price increases. in the fourth quarter of 2022 $24.3 billion Even in tough times for the electric car industry, the company reported record quarterly revenues of Finance Monthly. Investment 29
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