Seema Shah · January 2023
MMM: Tesla's 4Q22 Earnings Beat, 20% Price Cut
Tesla's 4Q22 earnings beat street estimates, with a 20% price cut implemented globally to maintain momentum. The company anticipates elevated consumer demand to boost vehicle sales and profitability. Meanwhile, Comcast's 4Q22 earnings exceeded expectations despite substantial broadband losses due to Hurricane Ian. Peacock reported over 20 million subscribers at the end of 4Q22, with losses of $2.5bn from the service. However, Peacock saw significant growth in users largely attributable to tentpole film releases and sports streaming.
Key Takeaways:
Tesla’s reported 4Q22 earnings exceeded street estimates on EPS and revenue for the quarter. To maintain momentum, the company implemented a ~20% price cut globally and anticipates elevated consumer demand to boost vehicle sales and potentially bolster company profitability in the future
Per ST estimates, worldwide installs of the Tesla mobile app were up 27% YoY in 4Q22 vs +31% for reported global vehicle deliveries in the quarter
Roughly 40% of Tesla app installs in 4Q22 came from the US & Canada, while 32% came from Asia, and 25% came from Europe
Comcast reported 4Q22 earnings, exceeding street estimates on EPS and revenue despite its substantial broadband losses in the quarter due to Hurricane Ian
Keeping pace in the SVOD arms race isn’t cheap: losses stemming from Peacock hit $2.5bn in ‘22 and management forecasted that losses will increase in ‘23 to $3bn Still, Peacock reported over 20mn subscribers at the end of 4Q22, up 33% from 3Q22 when the service had 15mn subscribers
Per ST estimates, worldwide MAUs on the Peacock mobile app in Dec’22 were up 29% vs Sep’22 as the service saw significant growth in users largely attributable to tentpole film releases such as Halloween Ends and and sports streaming (World Cup games)
For more information, request the full report from reports@sensortower.com.
