Elon Musk’s Tesla Expected to Record First Full Year of Profitability

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Tesla is expected to report its first full-year profit, a milestone powered by record vehicle deliveries amid a pandemic

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Tesla Inc. is expected to report its first full-year profit, a milestone powered byin the face of a global pandemic and a growing appetite for electric cars.

The Silicon Valley car maker delivered around half a million vehicles last year, up more than a third from a year earlier, even as world-wide auto sales plunged roughly 14%, according to researcher LMC Automotive. Wall Street expects such resilience to help Tesla generate around $1.3 billion in 2020 annual profit when the company posts earnings Wednesday afternoon, according to FactSet, on sales of about $31.1 billion. That compares with an $862 million loss in 2019 on sales of $24.6 billion.

Tesla delivered quarterly profits during the pandemic despite the temporary shutdown of the company’s lone U.S. car plant because of the health crisis.

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Its all just a bit 'yawn! ..less than 1% of global car sales, sells fewer EVs than European rivals in Europe ..blah, yawn, blah.

Speculative investors will assume linear continuity of profitable earnings from now on. This profitable year was based on tenuous new Chinese sales while units sold in 22 U.S. states fell. The Y Model cannibalizes Model 3 sales. Like Model 3 sales did against Models S and X.

Profitable before or after tax credits?

good luck

new enron

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