{"id":1825314,"date":"2023-01-26T14:35:18","date_gmt":"2023-01-26T19:35:18","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1825314"},"modified":"2023-01-26T14:35:56","modified_gmt":"2023-01-26T19:35:56","slug":"tesla-posts-highest-profits-ever-despite-concerns-about-musks-twitter-purchase-causing-brand-risk","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tesla-posts-highest-profits-ever-despite-concerns-about-musks-twitter-purchase-causing-brand-risk\/","title":{"rendered":"Tesla Posts Highest Profits Ever Despite Concerns About Musk\u2019s Twitter Purchase Causing Brand Risk"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftesla-posts-highest-profits-ever-despite-concerns-about-musks-twitter-purchase-causing-brand-risk%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1825314&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p><a href=\"http:\/\/dailywire.com\/topic\/tesla\" target=\"_blank\" rel=\"noopener\">Tesla<\/a> Record financial performance, which exceeded expectations despite concerns about the recent purchase <a href=\"http:\/\/dailywire.com\/topic\/twitter\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> By <a href=\"http:\/\/dailywire.com\/topic\/elon-musk\" target=\"_blank\" rel=\"noopener\">Elon Musk<\/a>The <a href=\"http:\/\/dailywire.com\/topic\/electric-vehicles\" target=\"_blank\" rel=\"noopener\">electric<\/a> automaker\u2019s chief executive.<\/p>\n<p>Tesla boasted revenues of $24.32 billion for the fourth quarter, surpassing analysts\u2019 expectations of $24.16 billion and reflecting a 37% year-over-year increase. The total gross profit was $5.78billion, an increase of 19% over the previous year. The full-year metrics saw an increase of 51% and 53% respectively.<\/p>\n<p>\u201cIn the last quarter, we achieved the highest-ever quarterly revenue, operating income and net income in our history,\u201d According to the company, <a href=\"https:\/\/tesla-cdn.thron.com\/static\/GZR0GS_TSLA_Q4_2022_Update_PVPJAG.pdf?xseo=&#038;response-content-disposition=inline%3Bfilename%3D%22b7871185-dd6a-4d79-9c3b-19b497227f2a.pdf%22\" target=\"_blank\" rel=\"noopener\">earnings report<\/a>. \u201cAs we progress into 2023, we know that there are questions about the near-term impact of an uncertain macroeconomic environment, and in particular, with rising interest rates. The Tesla team is used to challenges, given the culture required to get the company to where it is today.\u201d<\/p>\n<p>Tesla shares rose 8.6% on Thursday afternoon. The company released its earnings report shortly after the bell. Despite this, shares have fallen almost 50% in the past year. This is despite outperforming the S&#038;P 500 Index as well as the technology-heavy NASDAQ Composite.<\/p>\n<p>\u201cIn the near term we are accelerating our cost reduction roadmap and driving towards higher production rates, while staying focused on executing against the next phase of our roadmap,\u201d The company went on. \u201cIn any scenario, we are prepared for short-term uncertainty, while being focused on the long-term potential of autonomy, electrification and energy solutions.\u201d<\/p>\n<p>After Musk&#8217;s significant challenges, the strong earnings news is a result. <a href=\"https:\/\/www.dailywire.com\/news\/tesla-investors-are-worried-that-elon-musks-work-with-twitter-could-hurt-automaker\" target=\"_blank\" rel=\"noopener\">pressure<\/a> His acquisition of Twitter by investors has drawn criticism. The move was seen as a distraction by the billionaire entrepreneur from his work at Tesla, a publicly traded automaker. According to a survey, net favorability for Tesla among Democrats fell by 20.3% between October-November, the acquisition timeframe. <a href=\"https:\/\/morningconsult.com\/2022\/11\/17\/elon-musks-politically-polarizing-effect\/\" target=\"_blank\" rel=\"noopener\">survey<\/a> Morning Consult reported that the net favorability of Republicans rose 3.9% in the same time frame.<\/p>\n<p>One investor <a href=\"https:\/\/app.saytechnologies.com\/tesla-2022-q4\" target=\"_blank\" rel=\"noopener\">asked<\/a> Musk asked whether the brand damage caused by the acquisition had affected Tesla&#8217;s demand during an earnings conference. Musk replied by checking his Twitter account to see that he has 127 million followers. He claimed that this is a result of the acquisition. \u201creasonably popular\u201d Other than \u201ca few people\u201d complaining. \u201cI think Twitter is actually an incredibly powerful tool for driving demand for Tesla,\u201d He stated. \u201cAnd I would really encourage companies out there of all kinds, automotive or otherwise, to make more use of Twitter and to use their Twitter accounts.\u201d<\/p>\n<p>Tesla has been before <a href=\"https:\/\/ir.tesla.com\/press-release\/tesla-vehicle-production-deliveries-and-date-financial-results-webcast-fourth-quarter\" target=\"_blank\" rel=\"noopener\">announced<\/a> Vehicle production in the fourth quarter was over 439,000, while vehicle deliveries were at 405,000. The metrics were up 47% and 40% respectively for the whole year. \u201csupply chain related challenges.\u201d Musk recently <a href=\"https:\/\/www.dailywire.com\/news\/elon-musk-makes-bold-predictions-about-tesla-performance-global-recession-twitter-deal\" target=\"_blank\" rel=\"noopener\">said<\/a> Tesla has \u201cexcellent demand\u201d And expects to \u201csell every car that we make for as far into the future as we can see.\u201d<\/p>\n<p>The brand\u2019s strong performance comes despite logistics <a href=\"https:\/\/www.dailywire.com\/news\/elon-musk-laments-tesla-factories-becoming-gigantic-money-furnaces-thanks-to-supply-chain-issues\" target=\"_blank\" rel=\"noopener\">bottlenecks<\/a> These factors have led to increased production costs across the globe. Musk claimed last summer, that the past two decades have been an \u201cabsolute nightmare\u201d for disruptions and called the company\u2019s Berlin and Austin facilities \u201cgigantic money furnaces.\u201d Tesla was also helped by public policies like the Inflation Reduction Act. <a href=\"https:\/\/www.dailywire.com\/news\/energy-sec-granholm-families-should-use-ev-tax-credits-weatherize-their-homes-finance-solar-panels-to-cope-with-inflation\" target=\"_blank\" rel=\"noopener\">includes<\/a> $7,500 tax credit for new domestically manufactured electric vehicles and $4,000 for used.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla reported record financial performance that exceeded expectations despite concern over the recent purchase of Twitter by Elon Musk, the electric automaker\u2019s chief executive. Tesla boasted revenues of $24.32 billion for the fourth quarter, surpassing analysts\u2019 expectations of $24.16 billion and reflecting a 37% year-over-year increase. Total gross profits were $5.78 billion, marking a 19% &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1825317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[7710,5623,5241,4842,5330,8881,5384,7514,6734,4253],"class_list":["post-1825314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-brand","tag-causing","tag-concerns","tag-musks","tag-posts","tag-profits","tag-purchase","tag-risk","tag-tesla","tag-twitter"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1825314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1825314"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1825314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1825317"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1825314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1825314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1825314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}