Tesla's fourth-quarter earnings and revenue fell short of analysts' estimates, sending shares down by 4% in extended trading on Wednesday. Automotive revenue sank 8%. The company attributed the decline in revenue to lower average selling prices for its Model 3, Y, S, and X vehicles. Tesla’s earnings report comes after a sharp rise in stock price linked to President Trump’s election. CEO Elon Musk was a major supporter of Trump’s campaign and now leads his government advisory board. Tesla's stock price surged after Trump's victory as investors anticipated Musk's influence would result in favorable policies and reduced oversight for his companies.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla's fourth quarter earnings and revenue fell short of analysts' estimates,
00:05sending shares down by 4% and extended trading on Wednesday.
00:09Automated revenue sank 8%.
00:11The company attributed the decline in revenue to lower average selling prices in its models
00:163, Y, S, and X vehicles.
00:18Tesla's earning report comes after a sharp rise in stock price linked to President Trump's election.
00:23CEO Elon Musk was a major supporter of Trump's campaign
00:27and now leads his government advisory board.
00:29Tesla's stock prices surged after Trump's victory as investors anticipated
00:33Musk's influence would result in favorable policies and reduced oversight for his company.