Tesla dwarfs quarterly revenue expectations

Tesla

Tesla Inc on Wednesday beat Wall Street estimates for fourth-quarter revenue after trouncing 2020 deliveries earlier this month on a steady rise in electric vehicle demand.

The company delivered 180,570 vehicles during the fourth quarter, a quarterly record, even though it narrowly missed its ambitious 2020 goal of half a million deliveries.

“Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries,” Tesla said in a statement on Wednesday.

The carmaker, led by billionaire entrepreneur Elon Musk, said quarterly revenue rose to $10.74 billion from $7.38 billion a year earlier. Analysts had expected revenue of $10.4 billion, according to IBES data from Refinitiv.

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