Tesla made more money in 2022 than ever before, but its future still looks rocky

The Tesla logo on a red, black, and white background.
Illustration by Alex Castro / The Verge

Amid flagging demand, steep price cuts, and ongoing drama surrounding Elon Musk’s stewardship of Twitter, Tesla published its fourth quarter earnings report in which the company said it earned $3.7 billion in net income on $24.3 billion in revenue. That represents a 59 percent increase year over year compared to $2.8 billion in revenue in Q4 2021.

It was also Tesla’s third year ending in the black, with $14.1 billion in net income for 2022, compared to $5.5 billion in profit in 2021 and a mere $721 million in 2020. Tesla turned that profit on over $81.5 billion in revenue.

The earnings come on the heels of a production and delivery report in which Tesla said it delivered 405,278…

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Author: Andrew J. Hawkins