Tesla’s stocks could rally on Thursday after it unveiled mixed fourth-quarter earnings data and confirmed the production of its cybertruck. The electric vehicle (EV) maker ended Wednesday’s session by gaining 0.38% to $144.43 per share. It could increase further by 7.26% to $154.92 apiece in the upcoming stretch.
On January 25, Tesla said its EPS increased to $1.19, surpassing the market consensus of $1.15. This latest reading is higher than the previous record of $1.05. Meanwhile, its sales revenue came at $24.32 billion, disappointing the analysts’ projections of $24.68 billion. Yet, it is above the former result of $21.45 billion.
Besides, Tesla said its automotive revenue jumped by 33.00% year-over-year to $21.30 billion. It added that $467.00 million of this came from regulatory credits. Furthermore, the entity’s revenue from energy generation and storage rose by $1.31 billion on an annual basis. Also, Tesla’s services and other revenue, including fees for out-of-warranty unit repairs, hit $1.60 billion.
During the earnings call, executives said that the firm had installed the capacity across all of its plants worldwide. The purpose is to make 100,000 Model S and X as well as Model Y and Model 3 units annually.
Cybertruck Production of Tesla will Start in Summer
Furthermore, CEO Elon Musk announced that Tesla’s most-anticipated cybertruck would begin production later this year. It comes following several setbacks and delays after it was initially unveiled in late 2019. Besides, he revealed that the company’s next-generation platform is under development. Also, he said the company would release more details at its investor day on March 01.
Moreover, Musk clarified that the production of the cybertruck would start this summer. Yet, the volume output would come next year.
Earlier this month, Tesla Chief Vehicle Designer Franz von Holzhausen hinted in a podcast that the pickup is ready. Also, there are numerous reports of production equipment being delivered to the firm’s Texas plant.
