2023-01-29
Tesla revenue shows better-than-expected on fourth quarter of 2022. Tesla
made highest revenue and net profit since the company was founded. On fourth
quarter of 2022, Tesla reported revenue of $24.32 billion. This was a
37% increase over the same period last year, above the average forecast of
$24.16 billion.
Earnings per share increased to $1.9 from $1.3 expectation for the
company fourth quarter revenue. Tesla has the highest revenue and net profit
since it was founded. Automotives sales revenue was $21.3 billion, increased
33% compared to the same period last year; due to increase numbers of vehicle
production. It amounted to 439,701, a 44% increase from the same period last year.
Tesla Q4 2022 shows the company’s bitcoin holding worth $184 million, decrease from $218 million in previous quarter. No bitcoins were bought or sold during the fourth quarter. Tesla plans to increase production capacity, and cut prices. The current purchase order is almost double the capacity of vehicle production. While the Cybertruck, an electric pickup truck in under the process of production.
Tesla’s market cap compares to other electric vehicle companies (As of Jan. 29, 2023).
Tesla 561.76 Billion
BYD 107.15 Billion
Lucid Motors 22.53 Billion
Rivian 17.51 Billion
Tesla shares on January 28 closed at 177.90, up from its bottom low of $113.06. That’s a 57% increase.
