Tesla Q4 revenues beat on the strength of Model 3; earnings miss
After delivering a record number of vehicles in the final months of last year, Tesla (TSLA) Wednesday reported stronger than expected revenues for the fourth quarter.
Total revenues more than doubled to $7.23 billion during the three-month period, surpassing market expectations. Automotive revenue surged to $6.3 billion helped by strong Model 3 deliveries, while energy generation & storage revenue jumped 25% to $371.5 million.
The European expansion and construction of the Gigafactory in China have been a major morale booster for investors. Recently, CEO Elon Musk reiterated his resolve to reduce debt and not to refinance the loans.
After delivering a record number of vehicles in the final months of last year, Tesla (TSLA) Wednesday reported stronger than expected revenues for the fourth quarter.
Total revenues more than doubled to $7.23 billion during the three-month period, surpassing market expectations. Automotive revenue surged to $6.3 billion helped by strong Model 3 deliveries, while energy generation & storage revenue jumped 25% to $371.5 million.
The European expansion and construction of the Gigafactory in China have been a major morale booster for investors. Recently, CEO Elon Musk reiterated his resolve to reduce debt and not to refinance the loans.
