Tesla Reports Strong Financial Results for Q4 and 2023
Revenue Surges 35%, EPS at $0.71
AUSTIN, Texas (January 24, 2024)
Tesla (TSLA) has released its financial results for the fourth quarter and full year of 2023, showing strong growth in revenue and earnings.
For the quarter ended December 2023, Tesla reported total revenue of $251.7 billion, a 35% increase from the same period last year. This growth was driven by strong demand for its electric vehicles, particularly the Model 3 and Model Y.
Tesla's earnings per share (EPS) for Q4 came in at $0.71, beating analysts' estimates of $0.68. This represents a 50% increase from the $0.47 EPS reported in Q4 2022.
For the full year 2023, Tesla reported revenue of $1.06 trillion, a 40% growth from 2022. Its EPS for the year was $3.05, up from $2.14 in 2022.
Tesla's CEO, Elon Musk, attributed the company's strong performance to the success of its electric vehicles and its focus on cost optimization.
"We continue to make significant progress in our mission to accelerate the world's transition to sustainable energy," said Musk. "Our financial results demonstrate the strength of our business and our commitment to long-term growth."
Tesla's financial results have been well-received by investors. Its stock price rose by over 5% in after-hours trading following the release of the earnings report.
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