After the U.S. stock market closed on January 26, electric car giant Tesla announced its fourth quarter 2021 financial results. Although Tesla’s fourth-quarter revenue and profit exceeded expectations, the stock price fell by more than 6% following the market as the company warned that production bottlenecks and supply chain challenges still exist, and may run through 2022. The decline then narrowed.
According to the financial report, Tesla’s revenue in the fourth quarter of last year was $17.7 billion, which was higher than market expectations of $16.64 billion. Adjusted earnings per share of $2.54 also beat consensus estimates of $2.37. Net profit for the quarter was $2.321 billion, the third consecutive quarter for Tesla to exceed $1 billion in net profit.
However, the earnings report mentioned that the pace of ramping up production at Tesla’s two factories in Austin and Berlin may be hampered by technical challenges brought regarding by new product launches, ongoing supply chain issues and the impact of regional approvals.
For the new products that investors are paying attention to, Tesla said that it is still advancing the industrialization of the electric pickup Cybertruck, and currently plans to produce the Cybertruck following the Model Y is produced at the Austin plant.
Tesla released its fourth-quarter earnings report warning that supply chain problems still existed following the market. Click on the video to see what it is!
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