Connect with us

Hi, what are you looking for?

Tech News

Tesla’s profits improved slightly, but still down compared to last year

Photo by Amelia Holowaty Krales / The Verge

Tesla reported earnings of $7.9 billion in net income on $25.2 billion in revenue during the fourth quarter of 2023. The figures represent an increase in revenue, up from $24.3 billion the same time last year.

The company’s profit margins improved slightly but are still down compared to last year’s. The company reported margins of 8.2 percent, up slightly from 7.6 percent the previous quarter but down from last year’s 16 percent.

Tesla used to have historic profit margins, sometimes as much as 20 percent, but a series of price cuts have caused its once-vaunted margins to drop into more earthly territory, worrying investors.

The company’s profit margins continued to shrink

Also fewer Tesla vehicles qualify for the federal EV tax…

Continue reading…

You May Also Like

World News

Since the Iowa caucuses ended Monday night, there’s been a lot of energy spent on interpreting the results in a way that best reflect...

Tech News

Rabbit R1. | Photo by David Pierce / The Verge The R1, the pocket-size gadget from Rabbit that’s supposed to use your apps for...

Tech News

Tesla Model 3 (2024) | Image: Tesla An updated version of Tesla’s Model 3 sedan that was released in markets across Europe, the Middle...

Tech News

The entry-level Apple Watch SE is a gateway smartwatch if there ever was one. | Photo by Amelia Holowaty Krales / The Verge Editor’s...