Tesla Reports Strong Fourth Quarter Results
Non-GAAP Earnings Per Share Exceed Expectations
AUSTIN, Texas – January 24, 2024
Tesla Inc. (NASDAQ: TSLA) today announced its financial results for the fourth quarter and full year 2023. The company reported strong growth in both revenue and earnings, driven by continued demand for its electric vehicles and related products.
For the fourth quarter, Tesla reported non-GAAP earnings per share of $0.71, exceeding analysts' estimates of $0.69. Total revenue for the quarter was $96 billion, up 37% year-over-year.
Full-year results also showed strong growth, with total revenue increasing by 51% to $383 billion. Non-GAAP earnings per share for the year were $2.86, up 126% from the previous year.
"We are pleased to report another strong quarter for Tesla," said CEO Elon Musk. "Our team continues to execute exceptionally well, driving record production and deliveries of our electric vehicles. We are also making significant progress on our next-generation products, including the Cybertruck and Semi."
Tesla's strong financial results are a testament to the growing demand for electric vehicles. The company's vehicles are now among the best-selling vehicles in the world, and its technology is leading the industry in terms of range, efficiency, and performance.
Looking ahead, Tesla expects to continue to grow its business in 2024. The company is planning to increase production of its existing models and launch new vehicles, including the Cybertruck and Semi. Tesla is also continuing to invest in new technologies, such as autonomous driving and energy storage.
"We believe that the future of transportation is electric, and we are committed to accelerating the transition to sustainable energy," said Musk. "We are confident that we can continue to execute on our mission and deliver even greater value to our customers and shareholders in the years to come."
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