Tesla (TSLA) shares rose despite fourth-quarter revenue and other metrics falling short of Wall Street expectations.
The final earnings release of 2024 finalized another difficult year for Tesla’s bottom line, as its full-year net income came in at $8.4 billion, a 23% decrease from 2023 and a 40% decline from 2022’s record $14.1 billion profit, though its full-year revenue rose $97.7 billion, a 1% improvement from 2023’s record.
Tesla’s fourth-quarter net income fell 71% from a year ago when results were boosted by a one-time tax benefit. The latest results fell short of Wall Street forecasts.
The electric-vehicle maker reports fourth-quarter earnings after the bell Wednesday. Here’s what investors will be watching: Tesla is expected to earn $0.66 a share, or $0.77 on a non-GAAP basis. Net income is expected to be $2.
Tesla reported fourth-quarter free cash flow of $2.03 billion, down from $2.06 billion a year ago and well below the $2.74 billion seen the previous quarter. But FCF was well above the FactSet consensus of $1.
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