Tesla Stock Value Rises After Strong Q4 Results and Production Guidance for 2023
Tesla reported strong financial results for Q4 2022, including $12.6 billion in GAAP net income and $14.1 billion in non-GAAP net income.
The company produced 439,701 vehicles in Q4 and delivered 405,278 vehicles.
For the entire year, production rose 47% YoY to 1,369,611 vehicles and deliveries increased by 40% to 1,313,851 vehicles.
Tesla's operating margin came in at 16.0% of sales, a decrease from the previous quarter's 17.2%.
The decline was due to an increase in raw material costs and negative foreign exchange impact.
Automotive gross margin, excluding regulatory credits, was 28.5%, lower than the previous year and last quarter.
Tesla plans to increase profits in the next quarter through hardware and software-related revenues.
Model Y production line in Berlin reached a capacity of over 3,000 vehicles per week by the end of Q4. Shanghai factory is operating at near full capacity.
Tesla will reveal details about its next generation vehicle at its Investor Day on March 1st.
MORE STORIES
Arrow