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Tesla reports record revenue and beats on earnings



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Tesla founder Elon Musk attends Offshore Northern Seas 2022 in Stavanger, Norway August 29, 2022.Carina Johansen | NTB | via ReutersElectric vehicle maker Tesla reported earnings after the bell, beating on both earnings and revenue. Shares rose more than 5% after hours after CEO Elon Musk said the company might be able to produce 2 million cars this year. Here are the results.Earnings (adjusted): $1.19 vs $1.13 per share expected, per RefinitivRevenue: $24.32 billion vs $24.16 billion expected, per RefinitivIn the year-ago quarter, Tesla reported revenue of $17.72 billion and adjusted earnings of $2.52 per share ($0.85 adjusted for an August 2022 stock split).related investing news 4 hours ago Tesla reported automotive revenue of $21.3 billion in the fourth quarter, representing 33% growth year-over-year. $467 million of that came from regulatory credits in the fourth quarter of 2022, up by nearly half from the prior year in the same period.Automotive gross margins came in at 25.9%, the lowest figure in the last five quarters. Operating cash flow was down 29% from last year, and down 36% from last quarter, coming in at $3.28 billion.In a shareholder deck, the company acknowledged that average sales prices have “generally been on a downward trajectory for many years,” and said “affordability” would be necessary for Tesla to grow into a company that sells multiple milli …

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