Shares of Tesla are toppling at the opening bell as the electrical lorry, solar panel and battery maker alerts financiers of slower sales development this year after publishing fourth-quarter revenues that were weaker than most had anticipated
ByMICHELLE CHAPMAN AP company author
January 25, 2024, 9: 59 AM
FILE – A Tesla logodesign is seen on a lorry on displayscreen in Austin, Texas, Feb. 22,2023 Shares of Tesla toppled at the opening bell Thursday, Jan. 25, 2024 as the electrical lorry, solar panel and battery maker cautioned financiers of slower sales development in 2024 after putting up quarterly monetary results that were weaker than most had anticipated. (AP Photo/Eric Gay, File)
The Associated Press
Shares of Tesla toppled at the opening bell Thursday as the electrical automobile, solar panel and battery maker cautioned financiers of slower sales development this year after publishing fourth-quarter results that were weaker than most had anticipated.
In a letter to investors launched Wednesday, Tesla alerted that sales development this year might be “notably lower” than the 2023 development rate, as it works to launch a more costeffective next-generation automobile at a factory near Austin.
Tesla, the letter stated, is inbetween 2 huge development waves, one from worldwide growth of the Models 3 and Y, and a 2nd coming from the brand-new automobile.
The business, which is headed by billionaire Elon Musk, reported a fourth-quarter changed revenue of 71 cents per share on earnings of $25.17 billion. Analysts surveyed by FactSet forecasted a revenue of 73 cents per share. Revenue was anticipated to be $25.64 billion.
Profits were off b