Tesla’s Q4 2019 earnings deliver with profits for second straight quarter

Q4 2019 Earnings

Tesla has now released their Q4 2019 statement before the earnings call later this afternoon, and within it delivered the news that Tesla owners and shareholders were hoping for, as the California automaker posted record profits for the first time in two straight quarters.

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In January Tesla announced a new record of 112,000 (now updated to 112,095) vehicles delivered around the world. Those numbers smashed the previous record of 97,000 vehicles delivered in the previous quarter.

Despite some rocky performances in previous years, Tesla has been able to keep the ship upright, and delivered records earnings and profits to go along with the record delivery numbers.

Here are the key figures:

Earnings

Tesla shareholders saw earnings of $2.14 per share versus estimates of $1.62 per share.

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Revenue

Tesla reported total revenue of $7.384 billion versus estimates of $7.047 billion

Other news

Model Y

The other big news was an update on Model Y deliveries. It has been rumoured for a while now that Tesla was ahead of their summer 2020 schedule for the first deliveries. Some of the clues that backed up these rumours were the first VIN’s appearing in the NHTSA database, the CARB certification of the Model Y, and the huge number of Model Y prototypes spotted road testing.

Now the Tesla website is showing the first Model Y deliveries will begin in March 2020 in the US market, and mid-2020 in Canada.

As of publication, Tesla shares have risen to $650USD in after-hours trading.

You can read more about the Q4 2019 earnings here. We’ll learn more after the earnings call, scheduled to take place at 3:30pm PST.

Developing, this story will be updated.

About Mike 486 Articles
Senior Contributor. White Long Range AWD Model 3 owner since October 2018. EV fan since 2012 with my first Nissan Leaf | Mike@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca