Tesla has released its financial results and shareholders' letter for the fourth quarter of 2019 after the market close today.

Electrek, By Fred Lambert

© Electrek | Tesla (TSLA) releases Q4 earnings: beats on revenue and earnings

We are updating this post with all the details from the financial results, shareholders' letter, and the conference call later tonight.

As we reported in our Q4 earnings preview post yesterday, Wall Street was expecting revenue of about $7.047 billion for the quarter and a gain of $1.62 per share.

Expectations were high this quarter after Tesla destroyed earnings expectations with surprisingly high profits last quarter.

Today, Tesla announced that it made $7.384 billion in revenue and it reported surprising profits of $2.14 per share (Non-GAAP) in Q4 2019 – over expectations for both revenue and earnings.

The automaker continues to improve its financial position with strong results and increased its cash position by almost $1 billion to now $6.3 billion.

Tesla Energy, the company’s energy production and storage business, has also greatly improved during the last quarter.

They have deployed 530 MWh of energy storage, including the first Megapacks, Tesla’s new utility-size energy storage product, and 54 MW of solar power.
Tesla’s stock price jump over 6% in aftermarket trading after the earnings result came out. TSLA is now trading at a new all-time high over $600 per share.

Here we will be posting our follow-up posts about the earnings and conference call to expand on the most important points (refresh the page to see the most recent posts):
This article was originally published by Electrek.
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