Tesla Inc. (NASDAQ: TSLA) on Wednesday reported a decline in adjusted earnings for the fourth quarter of 2023 when revenues increased modestly.
The Austin-based EV giant said its fourth-quarter revenues increased 3% year-over-year to $25.17 billion. The company produced a total of 494,989 vehicles during the three months and delivered 484,507 units.
Earnings, excluding one-off items, dropped to $0.71 per share in the December quarter from $1.19 per share a year earlier. Unadjusted net income came in at $7.93 billion or $2.27 per share in Q4, compared to $3.69 billion or $1.07 per share in the corresponding period of 2022. The results missed analysts’ estimates.
