$Tesla (TSLA.US)$ EPS $0.85 meets estimates, Sales $23.329B beats $23.208B estimate.
Tesla reported an in-line quarter with sales of $23.5 billion and earnings per share of 86 cents. Both numbers are roughly in line with Wall Street’s expectations.
Tesla stock has dropped 1.7% in after-hours trading after dropping 2% during Wednesday’s regular trading hours.
Tesla cut prices significantly for its vehicles in January and lower prices pressure profitability. The EV maker cut prices for some of its vehicles again Tuesday. The price of a Model 3 rear-wheel drive was cut by $2,000 to $39,990, the company’s website showed. The cost of Model Y, long range and performance vehicles also were cut by $3,000. Some Tesla prices have come down by roughly one-quarter so far in 2023.
