Hong Kong, China, 13 Sep 2022, A red Tesla car drives past a Tesla dealership in Wanchai. (Photo by Marc Fernandes/NurPhoto via Getty Images)
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Electric vehicle maker Tesla plans to report fourth-quarter results after the market closes on Wednesday.
Here’s what analysts were expecting Wednesday morning, according to Refinitiv:
- Earnings (adjusted): $1.13 per share
- Revenue: $24.16 billion
In the year-ago quarter, Tesla reported revenue of $17.72 billion and adjusted earnings of $2.52 per share.
Earlier this month, You’re here announced vehicle delivery and production figures for the fourth quarter of 2022 that set a new record for the company, but fell short of company targets and analysts’ expectations, despite the reduction in prices of its cars in December to entice customers to take deliveries before the end of the year.
Tesla reported 405,278 vehicle deliveries and production of 439,701 vehicles in the period ending Dec. 31, 2022. Full-year deliveries were around 1.31 million, a record for Tesla, after the he company began production at its new factories in Austin, Texas and Brandenburg, Germany.
Last year, Musk called factories akin to “money-burning ovens” in an interview with an owners club posted on YouTube in June.
So far in 2023, Tesla has continued to cut prices for its cars around the world, upsetting customers in the United States and China who have recently purchased new Teslas at higher prices, and triggering an instant drop. used Tesla prices in the United States as well.
Tesla solicits questions ahead of their earnings calls through a site called Say.com from retail and institutional investors.
Among other things, investors on this site say they want to know what recent price cuts will have on Tesla’s automotive gross margins, how much the company plans to increase sales of its cars in 2023, and when Tesla plans to start. mass production and deliveries. or his sci-fi-inspired pickup truck, the Cybertruck.
Throughout the fourth quarter of 2022, shareholders also demanded answers from Tesla and Elon Musk about his intentions with the automaker as the price of Tesla shares fell. Tesla’s stock price has fallen more than 40% in the past six months.
Musk currently divides his time, attention and resources between Tesla, SpaceX, the defense contractor of which he is CEO, and Twitter, the social media company he recently acquired.
The famed CEO sold billions of dollars of his Tesla holdings last year, including $3.6 billion in the fourth quarter, in part to fund the Twitter deal, which closed in late October 2022. is immediately named “Chief Twit” and CEO there. .
Since taking over Twitter, he has made sweeping changes to the company and the service, including allowing people who had been permanently suspended from the platform to come back online.
Musk’s movements on Twitter and his political statements on the social media platform have been correlated with a sharp decline in the reputation of Musk and Tesla, especially among liberal to very liberal leanings in the United States, according to a YouGov study shared with CNBC.
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