Tesla Q4 earnings miss, warns about lower volume growth

Tesla (TSLA) reported fourth quarter earnings that missed analyst estimates on both the top and bottom lines. The EV maker reported adjusted earnings of $0.71 per share, just shy of Street estimates of $0.73. Revenue of $25.17 billion also fell short of the $25.87 billion expectation. Tesla also warned that its vehicle volume growth rate in 2024 will be "notably lower" than in 2023. RBC Capital Markets Lead Equity Analyst for Global Autos Tom Narayan says the "real story" in the results was "what they didn't say for 2024 guidance." "Not a lot of information there. Just that growth will slow. But we knew that," he says. Narayan argues that issues such as price cuts impacting margins are "near-term dynamics." Ultimately, he argues, "This stock is not about the car business in 2024. It's about autonomy in 2035, 2040 and that's probably how the company thinks about the business." #TESLA #youtube #elonmusk About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance

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