Tesla (NASDAQ:TSLA) posted its fourth-quarter and full year 2022 earnings report after markets closed today. The results, which were discussed in the Q4 and FY 2022 Update Letter, were released after the closing bell on Wednesday, January 25, 2023.
The last year was challenging for Tesla, but it was a year that saw the electric vehicle maker reach new heights. Overall, Tesla produced over 439,000 vehicles and delivered over 405,000 in the fourth quarter. Vehicle deliveries grew 40% year-over-year to 1.31 million units, while production grew 47% year-over-year to 1.37 million cars. These were both records for the EV maker.
The following is a quick overview of Tesla’s Q4 and FY 2022 results.
REVENUE
Tesla posted total revenues of $24.318 billion with a gross profit of $5.777 billion in the fourth quarter. In comparison, analysts expected Tesla to post revenue of about $23.6 billion in Q4 2022.
EARNINGS PER SHARE
Tesla posted non-GAAP earnings per share of $1.19 per share in Q4 2022. In comparison, analysts were expecting Tesla to post earnings per share of $1.13 per share during the fourth quarter.
MARGINS
Automotive gross margins were at 25.9%, which are still impressive but slightly lower than expectations, which were at 26.4%.
Tesla’s Q4 and FY 2022 Update Letter can be viewed below.
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Keyword: Tesla Q4 and FY 2022 results: TSLA beats on revenue and EPS, slight miss on auto margins