Tesla reported a record quarterly profit of nearly $3.7 billion for the final three months of 2022 even as vehicle-delivery growth slowed
Tesla closed its worst year in its stock’s history, shedding about $675 billion in market valuation in 2022—the same year CEO Elon Musk bought Twitter. But reasons for the selloff go well beyond the social-media company. WSJ’s Sean McLain explains. Photo illustration: Amber Bragdon/Getty ImagesTesla Inc. reported record quarterly profit for the final three months of 2022 as Wall Street hungers for clarity on the company’s growth plans in light of apparent demand weakness.
Elon Musk’s electric-car maker said Wednesday that it had a fourth-quarter profit of nearly $3.7 billion, up 59% from a year earlier. The figure, which came even as vehicle-delivery growth slowed, was below the $3.8 billion Wall Street expected.
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