Tesla Misses Earnings in Q4, but Sees Faster Growth in Deliveries; Shares Slump By Investing.com

By Yasin Ebrahim

Investing.com – Tesla (NASDAQ:TSLA) on Wednesday reported mixed fourth-quarter as earnings fell short of Wall Street estimates on weaker margins. The company said, however, it expected a faster pace of growth for 2021.  

Tesla Inc (NASDAQ:TSLA) fell 5% in after-hours trade following the report.

Tesla announced earnings per share of 80 cents on revenue of $10.74 billion. Analysts polled by Investing.com anticipated EPS of $1.04 cents on revenue of  $10.47 billion.

Margin growth fell short of estimates even as vehicle average selling prices declined 11% compared with the same period last year. 

Automotive margin grew to 24.1% from 27.7% in Q3, missing consensus of 27.2%. 

Total deliveries were up 71% to 179,757, driven by a sharp increase in model 3/Y deliveries.  

Model 3/Y deliveries rose 88% to 163,660 and Model S/X deliveries fell 10% to 16,097 for the quarter from a year earlier.

Looking ahead, Tesla said that over a multi-year horizon it expected to achieve faster than 50% average annual growth in vehicle delivers, though expected even faster growth in 2021.