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Thndr Claps » U.S. Claps » Tech 📲 » Tesla ended 2022 on a high 🔝

Tesla ended 2022 on a high 🔝

by Omar El Shorafa
January 26, 2023
Claps, Tech, Automotive

The Clap
Tesla (NASDAQ:TSLA) recorded an EPS of $1.19 and revenues of $24.32bn, beating analysts’ expectations on the top and bottom lines.

What
Following the strong earnings, Tesla aims to increase production capacity to around 2 million cars to keep up with growing demand in the automotive industry.

So What
The stronger-than-expected earnings could have been driven by car price cuts in late 2022. According to Tesla CEO Elon Musk, this January saw Tesla record the strongest orders year-to-date in the company’s history.

Now What
Tesla’s stock shot up more than 5% in the after-hours following the earnings release.

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