After market close today Tesla (NASDAQ: TSLA) released their 4th quarter financials. The highlights included:
- Q4 revenue grew 2% to $7.38 billion as Tesla delivered about 112,000 vehicles during the period and a record 367,500 for the full year.
- A net profit of $105 million (58 cents per share) for the quarter.
- The company also said it plans to start producing limited numbers of its electric semi truck this year.
- Q4 revenue beat estimates of $6.99 billion, but net income fell short of the $152.4 million expected by analysts polled by FactSet.
Tesla added 4% more stores and service locations on the quarter bringing the total to 429 locations; a 13% year-over-year increase.
For full year 2020, vehicle deliveries should comfortably exceed 500,000 units.
Tesla, Q4 Update
The company stated they expect positive operating cash flow on a continuing basis going forward with the exception of ramp ups for new products. Telsa currently operates 1,821 Supercharger stations, totaling 16,104 individual connections where Tesla drivers can charge their cars away from home.
The company opened a car plant in Shanghai ahead of schedule.
At the time of publishing Tesla’s stock is up 8.15% to $638.35 in after market trading.
Information for this briefing was found via Tesla. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
