A tax benefit boosted quarterly earnings, but that masked a decline in earnings from carmaking caused by intensifying competition.
Tesla’s profit from sales of electric cars slumped in the last three months of last year because of price cuts intended to thwart increasingly intense competition, the company said on Wednesday as it warned of a tough year ahead.
Profit in the fourth quarter nearly doubled to $7.9 billion, up from $3.7 billion a year earlier. But $5.9 billion of that…
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