Tesla's Q4 Financial Overview

Tesla Inc. announced on Wednesday that its revenue for the fourth quarter of fiscal 2024 reached $25.7 billion, marking a 2% increase from the previous year but falling short of estimates. The company's diluted earnings per share also missed analysts' expectations, coming in at $0.73, which is a 3% increase compared to the same quarter in 2024. However, net income (GAAP) saw a significant decline of 71% year-on-year, totaling $2.31 billion.

Annual Financial Performance

For the entire fiscal year of 2024, Tesla's total revenue was reported at $97.69 billion, showing a modest 1% increase from the previous year. Despite this, the company's net income (GAAP) experienced a sharp decline of 53%, settling at $7.09 billion compared to the year prior.

Investments and Future Growth

"Throughout 2024, we have made substantial investments in infrastructure to fuel the next phase of growth for the company. This includes enhancing vehicle manufacturing capabilities for new models, AI training compute, and energy storage manufacturing capacity," stated Tesla. Following the release of the report, Tesla's stock saw a 3.32% increase in after-hours trading, with shares selling for $389.10 each.