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AP National Business

Tesla says its 4Q profit rose 59%, expects strong demand

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Published 1:50 PM

By TOM KRISHER
AP Auto Writer

DETROIT (AP) — Tesla has posted record net income for the fourth quarter of last year, and the company predicted that additional software-related profits will keep its margins higher than any other automaker. The Austin, Texas, maker of electric vehicles and solar panels said it made $3.69 billion from October through December, or an adjusted $1.19 per share. That beat estimates of $1.13 a share that had been reduced by analysts. The company’s profit was 59% more than the same period a year ago. Revenue for the quarter was $24.32 billion, which fell short of the $24.67 billion that analysts expected.

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