Tesla closed out its best year in company history posting quarterly and annual profit records, powered in large part by its booming operations in China, as Elon Musk’s electric car powerhouse is poised to finally face meaningful competition in the fast-growing battery vehicle market. Mercurial CEO Musk also said the carmaker won’t add the Cybertruck or another new vehicles to its lineup in 2022.
The company said today that it earned $2.05 per share on a GAAP basis in the quarter that ended Dec. 31, 2021, up 750% from a year ago. Excluding some items, EPS was $2.54 per share, topping analysts’ expectations of $2.26. Net income for the period was a best-ever $2.32 billion, an eightfold increase, while revenue was on the high side of expectations at $17.7 billion.
