Tesla reports record profits, confirms long-term outlook

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New York (AFP) – Tesla reported another round of record quarterly profits Wednesday 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 $3.7 billion, up 59 percent from the year-ago period as revenues jumped 37 percent to $24.3 billion. The results were fueled by a 31 percent rise in vehicle deliveries compared with the year-ago period. The EV giant, which startled investors earlier this month by announcing vehicle price cuts in the United States and…

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