Tesla beats Wall Street’s revenue estimates in the fourth quarter

Tesla has beaten Wall Street revenue estimates for the fourth quarter of 2022.

The electric vehicle company capped Q4 with $24.3 billion in revenue beating analysts’ expectations of $24.2 billion.

Tesla’s fourth-quarter revenue represents a 37% increase from the same quarter last year and a 13% increase quarter-over-quarter.

While Tesla as a whole closed the quarter with a 16% operating margin, automotive gross margins came in at 25.9%, which is the lowest figure in the last five quarters.

On Tuesday, Tesla announced plans to invest an additional $3.6 billion into its Nevada gigafactory to build a battery cell facility and a Semi truck factory.

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