Tesla Inc. has posted record fourth-quarter and full-year earnings as deliveries of its electric vehicles soared .
Here’s how the company performed:
- In the fourth quarter, Tesla made $2.32 billion. Excluding special items such as stock-based compensation, the company made $2.54 per share.
- (That beat Wall Street expectations of $2.36 per share. Revenue for the quarter was $17.72 billion, also ahead of analysts’ estimates of $17.13 billion.)
- Tesla made $5.5 billion last year compared with the previous record year of $3.47 billion in net income posted in 2020. Musk said the annual profit pushed the company’s accumulated earnings since its 2003 inception into profitable territory.
- Tesla delivered a record 936,000 vehicles last year, nearly double the 2020 figure. Fourth-quarter vehicle sales hit 308,600, also a record. Tesla said it expects 50% annual growth in vehicle deliveries “over a multi-year horizon.”
We can also get the following information：
- The factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through 2022.
- The chip shortage would stop the company from rolling out any new models in 2022 but hopefully would launch its Cybertruck, Semi and Roadster next year.
- It is not currently working on a $25,000 model that Musk promised in 2020 would launch in three years.
Our take: Tesla is as much a software company as it is a car company. The automaker is constantly innovating, and it doesn’t rely on traditional model years, midcycle refreshes, or complete redesigns. Tesla has fared better than most automakers in managing supply chain issues by using less scarce chips and quickly re-writing software，this is the key to its achievement.