The electric car maker reported fourth quarter adjusted earnings of $ 903 million, excluding special items, more than double its profit a year ago, but below the $ 1.1 billion forecast by analysts. Net income was $ 270 million, well below the $ 780 million estimated by Wall Street.
Still, the results culminated in a year of strong growth for the company, despite the problems associated with the temporary closure of Covid-19 plants and the triggering of a global recession that slowed auto sales in general. Revenue grew 31% in the year, and adjusted revenue grew more than 6,700% compared to the modest profit that Tesla posted in 2019, the automaker’s first profitable year. Net income in 2020 was $ 721 million, compared to a loss of $ 862 million a year earlier.