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Tesla’s fourth-quarter adjusted profits rose slightly amid a big push to sell its electric vehicles with offers of zero financing and other incentives, but the results still fell short of Wall Street forecasts.
· 2h
Tesla’s Profit Fell Sharply Last Year
Tesla’s profits slide over 70 percent in the fourth quarter
During the fourth quarter of 2024, Tesla said it earned $2.3 billion in net income on $25.7 billion in revenue. That represents a 1.9 percent increase year over year compared to $25.2 billion in revenue in Q4 2023 and a 70 percent decrease in net income. (The company’s net income in Q4 2023 includes a one-time non-cash tax benefit of $5.9 billion.)
· 3h · on MSN
Tesla's fourth-quarter earnings missed the mark but the stock is up anyway
Tesla's fourth-quarter and full-year earnings day is here — a highly anticipated report that is expected to be released after market close Wednesday.
The final earnings release of 2024 finalized another difficult year for Tesla’s bottom line, as its full-year net income came in at $8.4 billion, a 23% decrease from 2023 and a 40% decline from 2022’s record $14.1 billion profit, though its full-year revenue rose $97.7 billion, a 1% improvement from 2023’s record.
Tesla shares have become a vehicle for investors to wager on Musk himself, rather than the company. That has advantages, but also poses risks.
The Detroit carmaker is creating a domestic supply base to make EVs cheaper and profitable aided by Kurt Kelty, who landed Tesla’s top battery supplier in its early days.
Tesla fell short of analysts' estimates for gross profit margin in the fourth quarter on Wednesday, as the electric-vehicle maker rolled out financing offers and discounts to spur flagging demand for its aging lineup.
Tesla investors will look for more details on the automaker's lower-priced model when it reports quarterly results on Wednesday.
Tesla reports fourth-quarter earnings on Wednesday afternoon. Investors will be listening for the company's sales outlook and its plans for a cheaper EV.
Smithsonian Magazine on MSN4h
An Amateur Astronomer Seemingly Spotted a New Asteroid. It Turned Out to Be a Tesla in SpaceThe car, launched in 2018 on a SpaceX rocket’s upper stage, is one of many human-made objects in deep space that could potentially be mistaken for natural celestial bodies
The bigger news, though, is what Tesla has planned for 2025. In the first half of the year, it’s set to launch “more affordable” models. Precise details about these models haven’t been confirmed, although Tesla has been talking about them for quite some time.
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