Tesla has announced its Q4 2021 earnings on Wednesday afternoon, reporting numbers higher than Wall Street expectations.
The automaker reported $2.52 earnings per share, while revenue was at $17.72 billion, both beating Refinitiv data of $2.36 and $16.57 billion from analysts. Revenue was up 65% YoY.
Tesla saw 27.4% gross margin, up from 26.6% in the previous quarter.
“2021 was a breakthrough year for Tesla. There should no longer be doubt about the viability and profitability of electric vehicles. With our deliveries up 87% in 2021, we achieved the highest quarterly operating margin among all volume OEMs, based on the latest available data, demonstrating that EVs can be more profitable than combustion engine vehicles,” said the automaker.
For Q4 2021, Tesla produced 305,840 vehicles, up 70% year-over-year (YoY). It delivered 308,650 cars, up 71% year-over-year.
As for the full year of 2021, Tesla produced 930,422 vehicles and delivered a record 936,222, both increases of 83% YoY and 87% YoY, respectively.
Tesla said its annualized vehicle production run-rate in Q4 2021 was over 1.22 million cars.
“After a successful 2021, our focus shifts to the future. We aim to increase our production as quickly as we can, not only through ramping production at new factories in Austin and Berlin, but also by maximizing output from our established factories in Fremont and Shanghai. We believe competitiveness in the EV market will be determined by the ability to add capacity across the supply chain and ramp production,” said Tesla.
“While 2021 was a defining year for our company, we believe we are just at the very early stages of our journey. Thank you for being part of it,” concluded the automaker.
…developing, more to follow
