Tesla doubled profits in 2022
[ad_1]
Tesla introduced reporting for the fourth quarter and 2022 as a whole. The automaker’s quarterly revenue rose 37% to $24.3 billion. Net profit increased 59% to $3.7 billion. These results were slightly better than analysts’ forecasts. Tesla’s revenue in 2022 as a whole grew by 51%, to $81.5 billion, net profit – by 128%, to $12.6 billion.
As before informed Tesla delivered 405,000 electric vehicles in the fourth quarter, less than analysts expected. This was due to lower sales in China, including due to lockdowns, strong competition from other electric vehicle manufacturers and supply disruptions. In such conditions, Tesla over the past months several times announced about significant discounts and price cuts for their electric vehicles – in the United States, prices fell by 20%.
Tesla predicts 2023 deliveries will grow by 37% to 1.8 million electric vehicles, with the growth rate slightly lower than in 2022 (40%). According to analysts, the company’s results this year will be affected by the difficult macroeconomic situation. “Even a slight cooling in demand will have a significant impact on earnings,” said Sophie Lund-Yates, an analyst at Hargreaves Lansdown.
Tesla shares after the publication of financial statements rose by 5.5%.
[ad_2]
Source link
