Tesla slightly beats quarterly revenue estimates
Tesla slightly beat analysts' estimates for fourth-quarter revenue on Wednesday, powered by record delivery of electric vehicles during the last three months of 2022.
Tesla has outperformed the industry and increased sales and profit to records in recent years, weathering the pandemic and global supply-chain issues better than rivals. But its recent, steep global price cuts mark a move toward stimulating growth at the expense of profit margins, underscoring softening demand.
Tesla said its automotive operation margin was 25.9 per cent in the fourth quarter, the lowest in two years. The EV maker handed over to customers a record 405,278 vehicles in the fourth quarter, even as the company missed its 50 per cent annual growth target.
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