Tesla Misses Earnings, Stock Soars Despite Musk’s Controversies
Tesla’s Q4 2024 earnings missed analyst expectations, reporting $25.71 billion in revenue versus the projected $27.26 billion. A significant decrease in automotive revenue, driven by reduced average selling prices and hefty discounts to clear inventory, contributed to a 71% drop in net income year-over-year. Despite this, the company’s energy generation and storage revenue showed strong growth, up 113%. Tesla projects a return to vehicle business growth in 2025 and plans to launch a driverless ride-hailing service later this year.
John Q. Hosedrinker