Tesla, Inc. TSLA shares staged a recovery from an eight-month low on Monday, sparking a divergence in opinions between CEO Elon Musk and investors, as well as analysts, regarding the electric vehicle maker’s future outlook.
What Happened: Musk, responding to an X post on Sunday that highlighted Tesla’s annual revenue surpassing entertainment giant Disney Co.’s DIS in 2023, praised the achievement with a modest “It’s a start.”
Tesla reported $96.77 billion in revenue for 2023, a 19% annual increase, outpacing Disney’s $88.90 billion for the fiscal year ending Sept. 30, 2023.
Despite robust revenue growth, Tesla’s performance fell short of Wall Street expectations in the third and fourth quarters. Slowing electric vehicle adoption and economic uncertainties led to lower demand, with near-term guidance indicating a significant drop in 2024 volume growth. The company attributed this to preparations for launching its…
