Tesla's earnings report is good news, after-hours stock price rose more than 5% (Reuters file photo)

[Financial Channel/Comprehensive Report] Tesla announced its financial report for the fourth quarter of last year on Wednesday. The company’s profit and revenue were better than expected, and the Cybertruck is expected to start production this year. After hours, the stock price rose 5.48%. Offered at $152.35.

Foreign media reported that Tesla’s revenue in the fourth quarter was US$24.32 billion, better than the expected US$24.07 billion; adjusted earnings per share were US$1.19, better than the expected US$1.12; however, the overall gross profit margin was 23.8%, which was lower than Expected 25.4%; annual revenue of 81.46 billion US dollars, an annual increase of 51%, lower than expected; annual earnings per share of 4.07 US dollars, higher than expected.

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Tesla's sales in 2022 will be 1,313,851 vehicles, an increase of 40% over 2021, but below the 50% target. Although the number of deliveries in recent quarters has not met the target, the company said it will increase production as soon as possible to reach Long-term delivery target of 50% CAGR (Compound Annual Growth Rate).

However, the company expects to deliver about 1.8 million vehicles this year, implying an annual growth rate of about 37%.

Elon Musk told investors on Wednesday's outlook earnings call that Tesla has "received the strongest orders in our history to date" so far in January.

Orders are currently growing "almost twice as fast as production," he noted.

Additionally, Tesla confirmed that it is still on track to start building the long-awaited Cybertruck in Austin later this year.

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