Tesla Inc reported lower than expected fourth quarter earnings and lower margins, which caused its stocks to slide in post-market trading

The automaker blamed aggressive price cuts in China, supply chain costs, and a large wage package for Chief Executive Elon Musk and other executives for operating margins that shrank to 5.4% in the most recent quarter from 9% 2% in the past three months >
The Palo Alto company on Wednesday reported adjusted earnings of 80 cents per share for the fourth quarter, falling short of analysts’ consensus estimate for $ 1.03 and well below the $ 214 blowout of a year earlier, making it the sixth straight quarter of earnings

Tesla shares fell up to 76% in over-the-counter trading, but reduced the loss to 43% by 4:51 pm in New York. They fell $ 1893, or 21%, to USD 86416 in regular trading

Tesla didn’t provide an exact figure for projected car shipments in 2021, but expects to beat last year’s 50% growth rate, which is more than 750000 units would mean there were almost 500 worldwide in 2020000 vehicles delivered

Despite a lack of analyst earnings estimates, the result is a remarkable year for Tesla.The company has defied skeptics through sustained income growth and was rewarded with a record price and a placement in the standard & Poor’s 500 Index.Its success has helped boost the stocks of others Stimulating businesses with old and new strategies for electric vehicles

Tesla’s sales reached $ 10 billion October through December, beating analysts’ estimate of $ 1038 billion, and more than the $ 738 billion seen in the final quarter of 2019

The company makes money selling loans to automakers that need them to meet carbon emissions standards in California, Europe, and elsewhere. Investors view this revenue as a double-edged sword because they want Tesla to be profitable of its core business May be: Manufacture and sale of automobiles Regulatory loan revenue was $ 401 million, up from $ 397 million in the third quarter

Tesla said it upgraded its Fremont, Calif. factory to launch updated versions of its S and X models with new drivetrains and all-new interiors. A photo in the letter to shareholders shows a small screen for passengers in the back seat First shipments of the Model S began in 2012, and there has been speculation for months about an overdue update

Musk walked on the stratospheric valuation of the company’s stock markets on a conference call with analysts following Wednesday’s earnings announcement last year, promising that 1 million Tesla robotic self-propelled axles would be on the move by the end of 2020. He turned again on Wednesday on this subject to explain Tesla’s share price.As soon as Tesla’s so-called full self-driving technology emerges from the first beta phase and offers truly driverless functions by the end of 2021, the revenue from robotaxis could bring the company’s current market value to almost 900 Billions of dollars justify

Musk has been promising fully self-driving Tesla cars just around the corner since 2016.Despite its promise, Tesla did not deliver a robotic axis in 2020. Tesla’s full self-driving system, the 10thIt costs $ 000 and is not yet an autonomous system, but it does contain what is known as Level 2 driver assistance technology that requires constant human attention

Asked during the conference call why he is confident that Tesla can reach fully autonomous Level 5 by the end of the year, Musk said, “This is based on the progress we make on each beta iteration”

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Tesla, Tesla Earnings, Tesla Inc

World News – United States – Tesla shares slide after disappointing profit and profit margin on Wall Street

Source: https://www.latimes.com/business/story/2021-01-27/tesla-fourth-quarter-earnings-miss-expectations