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.