Tesla made the first surplus per year, but… Stock price plunges

Elon Musk, Tesla CEO. Photo = REUTERS

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Tesla recorded the first annual surplus since its inception.

According to AFP News on the 27th (local time), Tesla made a net profit of $721 million (796.7 billion won) last year through the announcement of its results. The sales were estimated at 31.5 billion dollars.

Tesla recorded a net loss of $862 million (952.5 billion won) in 2019, but last year it succeeded in turning into an annual surplus thanks to strong EV sales.

However, earnings per share in the fourth quarter of last year were 80 cents, short of the market forecast ($1.03).

The operating margin was 5.4%, down from the previous quarter (9.2%).

As the fourth quarter of last year’s earnings fell below market expectations, the stock price fell 2.14% on that day. After-hours trading is also falling sharply around 4%.

Tesla did not clearly state this year’s shipment target, but predicted it would exceed the 50% growth rate last year.

By calculating this, it is expected to ship more than 750,000 units per year.

Last year, Tesla shipped a total of 490,950 units.

Reuters reported, “Tesla’s fourth-quarter revenue was less than Wall Street’s estimates, and it did not clearly present its electric vehicle delivery target this year.”

Reporter No Jeong-dong Hankyung.com [email protected]

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