Tesla Stock Rises After Pledging Return to Growth in 2025
Key Metrics:
* Fourth-quarter revenue: $25.7 billion (missed estimates)
* Adjusted earnings per share: $0.73 (below expectations)
* Full-year revenue: $97.7 billion (1% increase)
* Operating income: $1.58 billion (23% decrease)
* Adjusted net income: $2.6 billion (3% increase)
Auto Business:
* Auto revenues declined 8% in Q4 and 6% in 2024.
* Tesla expects to return to growth in auto business in 2025.
* Total auto production decreased 7% in Q4, while deliveries increased 2%.
* Model Y production will temporarily shut down for changeover.
* Plans for new and affordable models on track for production in early 2025.
* Robotaxi Cybercab expected for volume production in 2026.
Energy Storage Business:
* Energy deployments expected to grow 50% year-over-year.
* Remains a bright spot for the company.
Outlook:
* Tesla expects vehicle volume growth due to advancements in autonomy and new products.
* Paid, unsupervised FSD coming to Austin, Texas in June.
* FSD to launch in Europe and China in 2025.
* CEO Elon Musk emphasizes importance of revitalizing American manufacturing.