Tesla Q4 2023 Earnings: Another Profitable Quarter, But Below Expectations
Tesla's Q4 2023 earnings report is out, and while the electric automaker continues its streak of profitability, it fell short of expectations on both revenue and profit per share. Key Takeaways: Profit: $0. 71 per share (Non-GAAP) vs. expected $0. 73 to $0. 74 Revenue: $25. 167 billion vs. expected $25. 598 to $25. 640 billion Deliveries: 484, 507 vehicles in Q4, 1, 808, 581 for the year Production: 494, 989 vehicles in Q4, 1, 845, 985 for the year Free cash flow: $4. 4 billion in 2023 Gross profit: Services & Other business increased from ~$500 million loss in 2019 to ~$500 million profit in 2023 Cost of goods sold: Declined sequentially in Q4 Profit and Revenue Miss Expectations While Tesla's 17th consecutive quarter of profitability is certainly impressive, the company's bottom line fell short of what analysts were expecting. Profit per share came in at $0. 71, compared to the expected range of $0. 73 to $0. 74. Revenue also missed exp...