Tesla Stock Drops As Earnings Come In Short 

(NEW YORK CITY. NY) Business News: Tesla stock (TSLA) fell over 12% on Thursday after the company reported fourth quarter earnings late Wednesday that missed estimates and issued a downbeat full-year production outlook.

For the fourth quarter, Tesla reported top line revenue of $25.17 billion against $25.87 billion expected; revenue rose approximately 3% from a year ago. Tesla reported adjusted EPS of $0.71 against $0.73 expected. Adjusted net income totaled $2.48 billion against the $2.61 billion expected by the Street.

In terms of its full-year production, Tesla said its “vehicle volume growth rate may be notably lower than the growth rate achieved in 2023, as our teams work on the launch of the next-generation vehicle at Gigafactory Texas,” indicating it would not reach Street estimates of 2.19 million for 2024, which would have been a 21% increase from 2023

CEO Elon Musk did confirm that the company’s next-gen vehicle will be coming in the second half of 2025.

In its earnings release and later on the earnings call, Tesla also mentioned progress on its next-gen manufacturing platform.

“We are focused on bringing the next-generation platform to market as quickly as we can, with the plan to start production at Gigafactory Texas,” the company said. “This platform will revolutionize how vehicles are manufactured.”

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