Even though the company met most of the analysts’ expectations, the net income of Tesla still fell by 24% from last year. However, due to a series of price cuts across different markets, the Q1 financials of Tesla weren’t that impressive. Most of these numbers, as expected, were from its automotive business, which made over $21.3 billion. Its profit jumped to $1.19 per share, which was higher than the median analyst estimates of $1.13. In its statement, the company said its Q4 revenue rose to $21.45 billion, which was higher than the $13.75 billion. The most important Tesla news was the company’s fourth-quarter and full-year results. is on track for another strong performance in Q1 2023. Due to the increase in production and the surge in demand, Tesla Inc. The company delivered 405,000 vehicles in Q4 2022. This has resulted in a massive increase in production and deliveries. The biggest EV maker is ramping up its Gigafactory Texas and Gigafactory Berlin. After the change, Model 3 will cost 231,900 CNY from its previous price of 229,900 CNY. In other Tesla news, the company has hiked its prices in the US, Canada, China, and Japan after a series of price cuts. This shows that Tesla stock is on its way to becoming a blue-chip as it is currently the global leader in the manufacturing of electric vehicles. A few months earlier, S&P also upgraded the credit rating of Tesla from BB+ to BBB. Recently, the popular rating agency Moody’s has upgraded the Tesla bonds to investor-grade status. The delivery numbers have exceeded the analyst expectations and it is a 83% increase YoY. According to details, the company produced 479,700 vehicles and delivered 466,140 vehicles during the second quarter. Tesla Inc has recently announced its delivery number for Q2 2023. Since then, the rally has gone parabolic as the shares have surged to their highest level since September 2022. After getting multiple rejections from the $208 resistance level, Tesla stock price finally broke above this resistance in June.
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