Tesla earnings have arrived

Tesla Inc. (TSLA) reported its Q4 2021 results after the market close on Wednesday. The world’s largest automaker exceeded analyst expectations on both revenue and earnings per share.

The company reported total revenue of $17.719 billion in the fourth quarter vs. $17.132 billion expected.

Earnings per share reported at $2.54 vs. $2.36 per share forecast.

Tesla produced 305,840 cars in the fourth quarter and deliveries reach 308,600 vehicles. Last year, Elon Musk’s company delivered a total of 930,422 vehicles.

”2021 was a breakthrough year for Tesla. There should no longer be doubt about the viability and profitability of electric vehicles.”

”After a successful 2021, our focus shifts to the future. We aim to increase our production as quickly as we can, not only through ramping production at new factories in Austin and Berlin, but also by maximizing output from our established factories in Fremont and Shanghai. We believe competitiveness in the EV market will be determined by the ability to add capacity across the supply chain and ramp production.”

”While 2021 was a defining year for our company, we believe we are just at the very early stages of our journey. Thank you for being part of it,” Tesla said in a letter to shareholders.

Tesla chart (Weekly)

Share price of Tesla ended the trading day up by 2.07% on Wednesday at $936.70 a share. The stock is up by 8.48% in the past year.

Tesla is the 6^th largest company in the world and with a total market cap of $941.40 billion.

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Sources: Tesla Inc., TradingView, GO Markets MT5, CompaniesMarketCap