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Tesla Posts Record High 2022 Earnings but Profits Are Hurt by Price Cuts

11 days ago   |   By Observer

Tesla today reported a net profit of $4.1 billion, or $1.19 per share, on $24.3 billion in revenue for the three months that ended Dec. 31. Both numbers beat analysts' estimates, but the profit margin for its electric car sales fell short of expectations at 25.9 percent, the lowest in more than a year.
Tesla shares wobbled in today's after-hour trading, jumping more than 3 percent before losing its gains.
The electric carmaker's quarterly revenue represents a 37 percent jump from last year, while operating expenses fell 16 percent. Full-year profit came at $12.6 billion on $81.5 billion in...
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