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The Guardian - US
The Guardian - US
Technology
Johana Bhuiyan

Tesla delivers underwhelming earnings despite Cybertruck launch and high vehicle deliveries

Tesla Inc. Elon Musk electric vehicle
a shiny red car in between two white cars
Tesla had a disappointing third quarter in 2023, earning $690m less than analysts expected. Photograph: John Thys/AFP/Getty Images

Despite putting a new vehicle on the market, announcing another for 2025 and beating Wall Street’s expectations for vehicle deliveries, Tesla was not able to shake off its disappointing third quarter.

The electric vehicle manufacturer brought in $25.1bn in revenue and posted $.71 in earnings a share in the fourth quarter of 2023, missing analyst expectations of 25.76bn in revenue and $0.74 earnings a share. The company’s fourth quarter revenue increased 3% year over year from $24.3bn in 2022.

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