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Tesla just beat Wall Street revenue estimates for the fourth quarter of 2022. The company closed out Q4 with $24.3 billion in revenue, a 37% increase from the same quarter last year and a 13% bump quarter-over-quarter. Analysts had expected the company to earn around $24.2 billion, according to Yahoo Finance data<\/a>.<\/p>\n The electric vehicle maker had $1.4 billion in free cash flow at the end of Q4, which is down from the $3.3 billion the company had in the bank at the end of the third quarter.<\/p>\n Investors today will be watching out for gross margins after Tesla slashed prices<\/a> and offered multiple discounts on its vehicles. While Tesla as a whole closed the quarter with a 16% operating margin, automotive gross margins came in at 25.9%, which is the lowest figure in the last five quarters.<\/p>\n The company acknowledged that average sales prices have \u201cgenerally been down a downward trajectory for many years\u201d and said the company would prioritize \u201caffordability\u201d so that it could grow into a company that sells multiple millions of cars annually.<\/p>\n Earlier this month, Tesla reported vehicle deliveries of 405,278 in the fourth quarter. While those were record deliveries, the automaker still missed Wall Street estimates<\/a> for the third quarter in a row. Similarly, Tesla\u2019s 1.3 million vehicle deliveries in 2022 was also a record for the automaker, but that number misses Tesla\u2019s own guidance of achieving 50% growth YoY and getting to 1.4 million deliveries.<\/p>\n Regardless, Tesla still intends to grow production as quickly as possible \u201cin alignment with the 50% CAGR target we began guiding to in early 2021,\u201d and reach 1.8 million cars in 2023.<\/p>\n