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Tesla’s 2024 financial results are out—and they’re terrible (arstechnica.com)

submitted 23 hours ago by Xatolos@reddthat.com to c/technology@lemmy.world

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AI Summary:

Tesla's 2024 financial results were disappointing, with several key points highlighted:

Automotive Revenues: Fell by 8% in Q4 2024 compared to Q4 2023, totaling $19.8 billion.
Energy and Storage Revenues: More than doubled, growing by 113% to $3 billion in Q4 2024.
Services: Grew by 31% in Q4 2024, contributing $2.8 billion.
Total Revenue: Increased by 2% in Q4 2024, but income fell by 23%, with an operating margin of 6.2%.
Net Profits: Dropped by 71% to $2.3 billion in Q4 2024.
Annual Performance: Automotive revenues decreased by 6% to $77 billion in 2024. Energy generation and storage increased by 67% to $10 billion. Services grew by 27%, bringing in $10.5 billion.
Gross Profits: Fell by 1%, with net profits dropping by 53% to $7.1 billion for the year.
Free Cash Flow: Decreased by 18% to $3.6 billion.
Regulatory Credits: $2.8 billion of profit came from selling regulatory credits, not from core business activities.
Future Predictions: Tesla expects energy storage revenues to grow by at least 50% year-over-year and aims to grow automotive sales by more than 60% in 2025.

Despite the poor financial results, Tesla's share price increased by 103% over the same period.

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[–] NotMyOldRedditName@lemmy.world 8 points 21 hours ago* (last edited 21 hours ago) (1 children)

aims to grow automotive sales by more than 60% in 2025.

I think this is being reported incorrectly in a lot of places.

They said the new vehicles they're launching in H1 2025 will allow them to grow 60% to the 3 million capacity they have.

They did not say in 2025, but it looked like it could be interpreted as 2025 without saying it.

[–] Buffalox@lemmy.world 2 points 16 hours ago* (last edited 16 hours ago) (1 children)

I think this is being reported incorrectly in a lot of places.

https://www.industryweek.com/leadership/companies-executives/article/21253076/tesla-q3-profits-double-musk-sticks-to-50-growth-target

Elon Musk said his team expects “an epic end of year” for the company as it aims to maintain its 50% annualized growth rate.

I don't think you are aware how crazy Musk's promises are.

[–] NotMyOldRedditName@lemmy.world 1 points 15 hours ago* (last edited 15 hours ago)

That's from 2022. They made no such guidance for 2025 as I stated. I stand by statement that I believe people are misinterpreting what was written and it was not about 2025, simply where the new vehicles will get them at some undefined point in the future.