Tesla (TSLA) posted its fourth-quarter and full-year 2023 financial results and shareholder letter after the market closed today.
We are updating this page with all of the information from the financial results, shareholder letter, and conference call later tonight. Refresh for the most recent information.
Tesla Q4 2023 earnings expectations
As we said in our Tesla Q4 2023 earnings preview yesterday, the Wall Street expectation for this quarter is $25.640 billion in revenue and $0.73 per share.
Now, did Tesla meet, exceed, or fall short of its expectations?
Tesla Q4 2023 financial results
Tesla announced its financial data shortly after the market closed today, confirming that it missed estimates with earnings of $0.71 per share (non-GAAP) and revenue of $25.167 billion in the previous quarter.
The real GAAP earnings are far larger, at $2.27 per share. Tesla explains:
One-time non-cash tax benefit of $5.9B recorded in Q4 for the release of valuation allowance on certain deferred tax assets.
Tesla's gross margin on automobiles fell again this quarter, albeit slightly: 17.6% against 17.9%.
That is due to price reduction, which are still occurring at a faster rate than cost cutbacks. The manufacturer nonetheless managed to minimize costs in the fourth quarter:
Cost of goods sold per vehicle declined sequentially in Q4. Our team remains focused on growing our output, investing in our future growth and finding additional cost efficiencies in 2024.
We will be posting our follow-up posts here about the earnings and conference call to expand on the most important points (refresh the page to see the most recent posts):
- Tesla (TSLA) warns of ‘notably lower’ growth in 2024
- Elon Musk: Tesla aims for next-gen EV to come in late 2025
Here’s Tesla’s Q4 2023 shareholder presentation in full:
Here’s Tesla’s conference call for the Q4 2023 results:
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