Tesla’s record 2019 has bought it some breathing room

Photo by James Bareham / The Verge

Tesla’s record-setting number of sales in 2019 also helped the electric automaker generate more money in one year than ever before, the company announced Wednesday afternoon. Tesla generated $24.6 billion in revenue in 2019, buoyed by a fourth quarter revenue figure of just shy of $7.4 billion.
Tesla still didn’t turn an annual profit — in fact, it lost $862 million in 2019. But that was better than the $1 billion loss the company posted in 2018. The company pulled down a $105 million profit in the fourth quarter, though that was boosted by the sale of $133 million worth of regulatory credits to other automakers. Tesla finished the year with back-to-back profitable quarters, something it did for the first time ever in 2018.
Combine…

Continue reading…