DETROIT (AP) — Tesla on Wednesday posted record net income in 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 earned $3.69 billion from October through December, or an adjusted $1.19 per share. That beat estimates of $1.13 that had been reduced by analysts, according to FactSet. 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.