Tesla Misses Wall Street Expectations as Quarterly Profit Plummets 71%

The electric vehicle maker reports its first annual delivery decline in over a decade, despite record-breaking sales in the final quarter.

Tesla's revenue for the fourth quarter of 2024 grew by 2% to $25.7 billion but fell short of analyst expectations of $27.3 billion.
Quarterly profit dropped by 71% to $2.3 billion, with earnings per share of $0.73 missing the projected $0.76.
The company experienced its first annual delivery decline in over ten years, delivering 1.79 million vehicles in 2024, down by 19,355 units compared to 2023.
Tesla's final quarter set a record with 495,570 vehicles delivered, though this number failed to meet both internal targets and analyst estimates.
CEO Elon Musk highlighted Tesla's focus on autonomous driving technology and introduced a prototype robotaxi, while critics pointed to an aging model lineup and reliance on niche products like the Cybertruck.