Tesla (TSLA) reported fourth-quarter revenue and adjusted profit below analysts’ estimates late Wednesday, with the stock first falling and then rising in after-hours trading after the company’s report and conference call.
Tesla posted net income of $2.32 billion, or $0.66 per share, on revenue of $25.71 billion. Analysts polled by Visible Alpha expected profit of $2.33 billion, or 66 cents per share, on revenue of $27.35 billion. Adjusted earnings per share (EPS) of $0.73 came in 5 cents below estimates.
The results come after Tesla’s fourth-quarter deliveries and production figures fell short of estimates earlier this month. The EV maker recorded a year-over-year deliveries decline for the first time, slipping to 1.79 million in 2024 from 1.81 million the prior year.
Tesla said in its fourth-quarter release that it expects vehicle sales to return to growth this year. The company also said its plans for a more affordable model are still on track to enter production in the first half of the year, though no official announcement has been made about what the more affordable Tesla will look like or cost.
Tesla’s shares, which first fell on the earnings news, were up about 4% after the conference call ended.
Robotaxis, Unsupervised Self-Driving Software Could Launch This Year in Parts of the US
Tesla said its Full Self-Driving technology “continues to rapidly improve,” with the company working to launch the supervised version of the software in Europe and China sometime this year. CEO Elon Musk said during Wednesday’s call that the company plans to start using the unsupervised version of the self-driving software with Tesla vehicles at the company’s Austin, Texas mfactory starting in June, with a broader public release possible this year.
The EV maker also said its “Cybercab” autonomous taxi is expected to launch in parts of the U.S. later this year once its self-driving software hits certain safety benchmarks, with wider production and rollout expected into next year.
Analysts have said the company is likely to benefit from Elon Musk’s proximity to President Donald Trump, lifting their price targets as Tesla shares have rallied roughly 60% since his reelection. CFO Vaibhav Taneja said Wednesday that there is “a lot of uncertainty” around Trump’s proposed tariffs, which “will have an impact” on Tesla’s business and profitability because of its reliance on sourcing parts from other countries.
Tesla shares had finished Wednesday’s regular session down more than 2% to just over $389, more than double their price from 12 months ago.
This article story has been updated with the latest share price information and details from Tesla’s earnings presentation and conference call.