Hong Kong, China, September 13, 2022. A red Tesla car drives in front of a Tesla dealership in Wanchai. (Photo by Marc Fernandes/NurPhoto via Getty Images)
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Electric car maker Tesla plans to report fourth-quarter results after the market closes on Wednesday.
Here’s what analysts expected as of Wednesday morning, according to Refinitiv:
- Earnings (adjusted): $1.13 per share
- Revenue: $24.16 billion
Tesla reported revenue of $17.72 billion and adjusted earnings of $2.52 per share in the year-ago quarter.
Earlier this month Tesla reported fourth-quarter 2022 auto delivery and production figures that set a new record for the company, but fell short of company targets and analysts’ expectations, despite cutting the prices of its vehicles in December to encourage customers to take deliveries before the end of the year.
Tesla reported deliveries of 405,278 vehicles and production of 439,701 vehicles for the period ending December 31, 2022. Full-year deliveries were about 1.31 million, a record for Tesla after the company started production at new plants in Austin, Texas, and Brandenburg, Germany.
Last year, in an Owners Club interview posted on YouTube in June, Musk said factories were like “stoves that burn money.”
So far in 2023, Tesla has continued to cut the prices of its cars around the world, upsetting customers in the US and China who recently bought new Teslas at higher prices, and causing an immediate drop in used Tesla prices in the US as well.
Tesla is soliciting questions from both retail and institutional investors ahead of its earnings call via Say.com.
Among other things, investors on the site say they want to know how the recent price cuts will affect Tesla’s gross profit in the auto industry, how much the company expects its car sales to grow in 2023 and when Tesla plans to start mass production and deliveries. of its long-delayed sci-fi-inspired Cybertruck pickup.
During the fourth quarter of 2022, shareholders also sought answers from Tesla and Elon Musk about his intentions for the automaker as Tesla’s stock price fell. Tesla’s stock price has fallen by more than 40% over the past six months.
Musk currently divides his time, attention and resources between Tesla, SpaceX, the defense contractor where he is CEO, and Twitter, the social media company he recently acquired.
Last year, the famous CEO sold billions of dollars worth of his Tesla holdings, including $3.6 billion in the fourth quarter, in part to finance the deal with Twitter, which is set to close in late October 2022. He promptly appointed himself “Twit-in-Chief” and CEO of that company. .
After he took over Twitter, he made major changes to the business and service, including allowing people who had been permanently banned from the platform to return to the network.
According to a YouGov study published by CNBC, Musk’s actions on Twitter and his political statements on social media are associated with a sharp deterioration in the reputation of Musk and Tesla, especially among liberal and very liberal people in the US.
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