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Tesla Stock Falls As Earnings Come In Short Of Expectations

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Key Takeaways

  • Tesla fell short of analysts' expectations in revenue, diluted earnings per share and income.
  • The company reported operating net income of $2.06 billion, diluted EPS of 71 cents per diluted and revenue of $25.17 billion.
  • The EV-maker has been slashing prices to garner more sales volume, squeezing margins.
  • Tesla shares were down 3% in after-hours trading.
Tesla Inc.'s (TSLA) fourth-quarter earnings fell short of analysts' expectations as repeated price reductions squeezed margins. Tesla shares were down about 3% in after-hours trading following the quarterly report from the electric vehicle maker.
Tesla reported operating income of $2.06 billion, down 47% from a year ago and below the $2.23 billion expected by analysts. Diluted earnings per share came in at 71 cents, also below the consensus view compiled by Visible Alpha.

Fourth quarter revenue was up 3% from a year ago at $25.17 billion but came in slightly worse than analysts had expected.

  Q4 2023 Analyst Estimates for Q4 2023 Q4 2022 Year-over-year % change
Revenue  $25.17 billion  $25.88 billion  $24.31 billion  3%
Operating Earnings Per Share (diluted) $0.71  $0.78  $1.19 -40% 
Operating Income $2.06 billion  $2.23 billion  $3.9 billion -47%

Key Metric

Tesla CEO Elon Musk's strategy of price cuts to boost sales volume has put pressure on the company's margins. With fourth-quarter deliveries of 484,507, Tesla met its annual target, but that target had been reduced from a prior 2 million.

For the quarter ended in December, Tesla reported an operating margin of 8.2%, nearly half of the 16% the company reported over the same period in 2022.

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