Tesla Stock Surges After Pledge to Resume Growth in 2025
* Tesla (TSLA) shares gained 4% in extended trading on Wednesday.
* The company announced a return to growth for its auto business in 2025.
* Fourth-quarter revenue missed analyst estimates, reaching $25.7 billion.
* Full-year 2024 revenue witnessed a modest 1% increase to $97.7 billion.
* Adjusted earnings per share fell short of expectations at $0.73.
* Tesla's operating income was impacted by AI and R&D costs, as well as lower vehicle selling prices.
* Total auto production dropped 7% in the fourth quarter, while deliveries increased 2%.
* Tesla delivered 1.78 million vehicles in 2024, marking a 1% decline.
* The company expects "less cost reduction" in future vehicle production.
* Tesla's Cybercab, a purpose-built robotaxi, is targeted for volume production in 2026.
* Vehicle volume is projected to grow this year due to autonomous driving advancements and new product launches.
* Tesla plans to expand FSD in Austin, Texas, Europe, and China.
* The company's energy storage business continues to perform strongly.
* Tesla CEO Elon Musk emphasized the importance of reviving manufacturing in the United States.