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Tesla stock price falls after quarterly earnings call reveals 15% profit decline (www.usatoday.com)

TLDR; Summary

  • Tesla's quarterly earnings call reveals a 15% decline in profit.
  • Tesla delivered 1.8 million cars in 2023, a 40% increase over 2022.
  • The Model Y accounted for over 1 million of the cars sold.
  • Tesla hints at a new model in its volume outlook.
  • Gross profit fell 15% year over year, with a margin of 17.6% for the quarter.
  • Tesla cut the price of its cars last year.
  • Artificial intelligence research and the production ramp up of the Cybertruck affected profitability.
  • Tesla stock price fell 2% in after-hours trading.
  • The stock has fallen 16.4% on the year.