Tesla On Wednesday The company posted record net income for the fourth quarter last year and predicted that software-related profits would keep its margins higher as compared to other automakers.
Elon Musk’s American Electric car maker It is on the verge of its worst year, was facing doubts about its business after discouraging sales and a series of For price reductions Tesla Vehicles All around the globe
- At The end of 2021 Tesla It was worth $1.1 trillion.
- But As of Dec. 28, it was worth $353 billion, a 68% decline.
- At that same time, the stock was down over 70% year-to-date and it’s on track for its worst month, quarter and year ever.
- Shares The number of employees in the same company grew by more than 1,100% between 2020 and 2021.
Tesla Shares Wednesday closed at $144.43 up more than 30% Starting at the beginning of each year .
Financial These results were posted today
The Austin, TexasMaker of solar panels and electric cars, said it made $3.69 Billion from October Through DecemberOr an adjusted $1.19/share That FactSet claims that the $1.13 estimate was higher than what analysts had estimated. The company’s profit was 59% more than the same period a year ago.
Revenue The quarter’s revenue was $24.32 Billion, which was less than the $24.67 Billion analysts had expected.
But The company’s automotive gross margin, which is revenue less cost of goods sold in a quarter, decreased from 30.6% in its fourth quarter in 2021, to 25.9% in that same period in 2022.
Why Tesla Stocks suffered their worst year since records began:Could It could be rediscovered in 2023.
Tesla’s 2022: Stock price plunges
Earlier This month Musk broke the world record For the greatest loss of personal fortune in human history.
Guinness World Records reported the record after Forbes Assessed the Tesla CEO lost $182 billion, although other sources suggest that it could actually be closer to $200 billion.
The Drop followed a trend at the time Tesla Stocks fell 58% in the past year
In August, Musk Close to 100 copies sold$7 billion worth of Tesla shares To get his finances in order before he acquires TwitterInvestors were frustrated by the move.
Musk The richest man in the world is no more:After Tesla Stock slide Elon Musk There is no longer a richest person on the planet. Forbes “
Mapping Elon Musk’s business empire:Guide to Musklandia In the Austin Area
Includes Information from the Associated Press. Contributing: Elisabeth Buchwald
Natalie Neysa Alund covers trending news for USA TODAY. Reach Send her an email at [email protected] or follow her on Instagram Twitter @nataliealund.
