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Tesla Inc TSLA.O zipped past Wall Street estimates for quarterly revenue on Wednesday as the world's most valuable automaker handed over a record number of vehicles to customers despite supply chain headwinds.
Revenue rose to $17.72 billion in the fourth quarter, from $10.74 billion a year earlier. Analysts had expected the electric-vehicle maker to report revenue of $16.57 billion, according to IBES data from Refinitiv.
Tesla has fared better than legacy automakers in dealing with the supply-chain issues by using less scarce chips and re-writing software quickly while others including General Motors GM.N and Ford Motor Co F.N have had to idle production.
Across the pond, S&P 500 futures (ES=F) were down 0.5%, Dow futures (YM=F) shed 0.6%, and Nasdaq futures (NQ=F) were 0.4% lower as trade began in Europe.
Later on Thursday, traders will have their focus on how the US economy fared in the final three months of last year, when the first estimate of GDP for October-December is released.
Economists predict that growth sped up to an annualised rate of 5.5%, from 2.3% in the third quarter, before the Omicron variant hit at the end of the year.
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Revenue rose to $17.72 billion in the fourth quarter, from $10.74 billion a year earlier. Analysts had expected the electric-vehicle maker to report revenue of $16.57 billion, according to IBES data from Refinitiv.
Tesla has fared better than legacy automakers in dealing with the supply-chain issues by using less scarce chips and re-writing software quickly while others including General Motors GM.N and Ford Motor Co F.N have had to idle production.
Elsewhere, UK car production slumped to its lowest level since 1956, as rising energy costs and computer chips shortages hurt the recovery.
Across the pond, S&P 500 futures (ES=F) were down 0.5%, Dow futures (YM=F) shed 0.6%, and Nasdaq futures (NQ=F) were 0.4% lower as trade began in Europe.
Later on Thursday, traders will have their focus on how the US economy fared in the final three months of last year, when the first estimate of GDP for October-December is released.
Economists predict that growth sped up to an annualised rate of 5.5%, from 2.3% in the third quarter, before the Omicron variant hit at the end of the year.
You can learn more about forex trading at forum.forex
This is the forex forum for beginners and professional currency market traders. Discuss and share forex trading tactics, currency pairs, tips and forex market data. Analyze forex brokers, leverage and fx signals providers.
Thank You
