The electric carmaker reported adjusted revenue of $ 903 million in the fourth quarter, excluding specialty items, more than doubling its earnings a year ago, but less than the $ 1.1 billion forecast by analysts. Net income was $ 270 million, less than the $ 780 million estimated by Wall Street.
Nevertheless, the results limited a year of strong growth for the company, despite the problems associated with the temporary closure of Covid-19 and a global recession that slowed car sales in general. Revenue increased by 31% for the year, and adjusted revenue increased by more than 6,700% of the modest profit that Tesla made in 2019, the first profitable year of the automaker. Net income for 2020 was $ 721 million, compared to a loss of $ 862 million a year earlier.