Tesla 4Q earnings fall short of analyst estimates as company warns of lower sales growth this year

By TOM KRISHER
AP Auto Writer

DETROIT (AP) — Tesla’s net income more than doubled last quarter due to a one-time tax benefit, even as electric vehicle price cuts and slowing sales growth cut into its profits. The Austin, Texas, electric vehicle maker warned of “notably lower” sales growth this year. It posted net income was $7.93 billion from October through December, compared with $3.69 billion a year earlier. But excluding one-time items such as the $5.9 billion noncash benefit for deferred tax assets, the company made $2.49 billion, or 71 cents per share. That was short of analyst estimates of 73 cents per share, according to data provider FactSet. Tesla reported quarterly revenue of $25.17 billion, up 3% from a year earlier but also below analyst estimates of $25.64 billion.