Only Tesla Would Rally on These Numbers

Tesla missed EPS estimates by 47%; Stock goes up 43%.

Feb 11, 2023

∙ Paid

EPS Effectively Missed by 47%: Tesla reported a 6% Q4 2022 GAAP EPS beat, but stripping out a one-off deferred revenue recognition of $0.3bn & a $1.5bn reversal of deferred tax asset (DTA) valuation allowance, Q4 EPS missed by 47% (see Figure-3).

Gross Margins Missed by a Wide Margin: Tesla’s key metric of performance is the automotive gross margin (ex…

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