Tesla Battery Supplier Beats Profit Estimates. It’s Citing Soaring EV Demand.


battery supplier Contemporary Amperex Technology, or CATL, beat annual earnings expectations Friday, strengthening its status as the world’s largest electric-vehicle battery maker.

The Chinese lithium-ion battery manufacturer said net profit rose 92% to 30.72 billion yuan ($4.4 billion) in 2022, beating analysts’ expectations of 28.8 billion yuan, according to FactSet data. Revenue soared 152% to 328.59 billion yuan, also beating the consensus of 325.9 billion yuan.

Source: https://www.barrons.com/articles/tesla-ford-catl-lithium-battery-stock-4db4fd28?siteid=yhoof2&yptr=yahoo