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Tesla (Chip) The shares increased by 4% with prolonged trade on Wednesday after the company promised a return on growth in 2025 after the results of the fourth quarter were disappointed to reduce the year at which revenue increased by only 1% while profits dropped sharply compared to a year ago.
For the fourth quarter, Tesla reported revenue of $ 25.7 billion, quite a few from $ 27.2 billion, expected by analysts and only 2% compared to a year ago. For the year’s 2024, revenues increased by 1% to $ 97.7 billion.
The corrected profit per share has reached $ 0.73, less than $ 0.75, Wall Street analysts have been predicted, according to Bloomberg.
Operational income amounts to $ 1.58 billion, which is 23% compared to last year, while the corrected net income increased by 3% to $ 2.6 billion.
Tesla said its operating income was negatively influenced by the costs related to artificial intelligence and other projects for research and development, as well as the lower average prices for sale for its current vehicles.
In his presentation of shareholders, Tesla said he expects his car business to return to growth in 2025 after total revenue from cars fell 8% in the fourth quarter compared to last year and 6% in 2024 compared to 2023 D. total car production dropped by 7% in the fourth quarter, while deliveries increased by 2%.
Earlier this month Tesla said he had delivered 495 930 vehicles worldwide In 2024, missing analysts estimates of around 510 400. In 2024, Tesla delivered 1.78 million vehicles, with a 1% decline from the previous year and the company’s first decline in the year, suggesting that the new competition, the search And global economic conditions can hurt the company.
The company also said, a more effective way to Capex in uncertain times. “
The CEO of Tesla Vaibhav Taneja said when calling with analysts that the production of model Y will be excluded in its factories in a short time as the new model change Y and that the braking will affect the margins.
The company reiterated that plans for new vehicles, including “more affordable models”, were about to start production in the first of 2025. Tesla also said its purposeful Robotaxi, Cybercab, was still planned to produce volume In 2026, with a fleet test of existing models that happen “later this year”.
Tesla said the volume of the vehicle this year is expected to return to growth due to the progress in the autonomy of vehicles and the release of new products.
