Tesla (TSLA) reported fourth quarter earnings that missed analyst estimates on both the top and bottom lines. The EV maker reported adjusted earnings of $0.71 per share, just shy of Street estimates of $0.73. Revenue of $25.17 billion also fell short of the $25.87 billion expectation. Tesla also warned that its vehicle volume development rate in 2024 will be “notably lower” than in 2023.
RBC Capital Markets Lead Equity Analyst for Global Autos Tom Narayan says the “real story” in the results was “what they didn’t say for 2024 guidance.” “Not a lot of information there. Just that development will slow. But we knew that,” he says.
Narayan argues that issues such as price cuts impacting margins are “near-term dynamics.” Ultimately, he argues, “This stock is not about the car company in 2024. It’s about autonomy in 2035, 2040 and that’s probably how the enterprise thinks about the company.”
#TESLA #youtube #elonmusk
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