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Tesla Profits Beat Estimates

January 25, 2023

Tesla Inc. reported better-than expected profits in the latest quarter, signaling strength as it faces growing questions about carbuyer demand for its all-electric vehicle lineup.

The Austin, Texas-based company reported adjusted earnings of $1.19 a share, besting the $1.12 a share average of analysts compiled by Bloomberg.

The EV market leader said it would increase output “as quickly as possible” — in line with previous guidance for average annual growth of 50% over multiple years, and said it is on track to deliver about 1.8 million vehicles this year.

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