Tesla’s net income in the fourth quarter fell 71 % from one year before the results were boosted due to a single tax benefit. The latest results did not reach the Wall Street prediction.
Elon Musk’s electric vehicle company said that it had earned $ 23.1 billion from October to December on Wednesday.
Excluding one item for both periods, the profits of Austin, Texas, increased by 3 % per share and rose 73 cents, but the analyst estimates are less than 77 cents per share.
Tesla shares fell by more than 2 % after transactions on Wednesday, but returned after the report, despite the lower results. Investors have increased by more than 50 %, as Donald Trump has been elected president, as investors hoped that the role of masking advice will support the company.
According to FactSet, the quarterly revenue increased by 2 % to $ 25.7 billion, and Wall Street predicted $ 27.1 billion.
A slight increase in revenue came after Tesla provided a series of incentives that caused demand for electric vehicles, including low -interest loans and low prices.
Earlier this month, Tesla stated that it sold 1.79 million vehicles in 2024. However, in the fourth quarter, there were signs of rebounds, and recorded 495,570 vehicles were sold.
Tesla has lost its market share in several countries to provide customer alternatives by other EV companies such as traditional automakers and BYDs in China.
In a letter to shareholders released on Wednesday, Tesla stated that it was working to reduce the cost of vehicles, emphasizing that one scale dropped to the lowest of $ 35,000 in history.
The company also said in the latter half of this year that Tesla’s customers would provide a completely untrained autonomous driving technology.
Tesla’s gross profit margin decreased to 16.3 % in the quarter and decreased by 1.3 points from the previous year.
