Tesla reports record profits, confirms long-term outlook

TESLA reported another round of record quarterly profits yesterday while confirming its long-term growth outlook in spite of concerns about rising competition and macroeconomic headwinds.

Elon Musk’s electric vehicle (EV) company reported fourth-quarter profits of US$3.7 (RM15.7) billion, up 59% from the year-ago period as revenues jumped 37% to US$24.3 billion.