Tesla's Financial Performance in Q4 2024

Tesla Inc. announced its financial results for the fourth quarter of fiscal 2024, revealing a revenue of $25.7 billion. This figure marks a 2% increase from the previous year but falls short of market expectations. The company's diluted earnings per share also missed analysts' forecasts, coming in at $0.73, which is a 3% increase from the same quarter in the previous year. Despite these gains, Tesla's net income (GAAP) saw a significant decline of 71% year-on-year, totaling $2.31 billion.

Annual Financial Overview

For the entire fiscal year of 2024, Tesla reported a total revenue of $97.69 billion, a modest 1% increase from the previous year. However, the company's net income (GAAP) experienced a sharp decline, dropping by 53% to $7.09 billion compared to the previous year.

Investments and Future Growth

"In 2024, we made significant investments in infrastructure that will spur the next wave of growth for the company, including vehicle manufacturing capabilities for new models, AI training compute, and energy storage manufacturing capacity," Tesla stated. Following the release of the financial report, Tesla's stock saw a 3.32% increase in after-hours trading, with shares selling for $389.10 each.