Technology

61227 readers

4322 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each other!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed
Accounts 7 days and younger will have their posts automatically removed.

Approved Bots

founded 2 years ago

MODERATORS

L3s@lemmy.world

enu@lemmy.world

technopagan@lemmy.world

L4s@lemmy.world

565

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

105 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] ininewcrow@lemmy.ca 9 points 23 hours ago (3 children)

You can't base their company value on the stock market ... you base it on how much power and influence they have over government.

And judging by the amount of stupidly arranged love affair they are having with the government .... they should be very highly valued.

[–] FlowVoid@lemmy.world 7 points 22 hours ago* (last edited 22 hours ago) (2 children)

No, you base company value on its current and future earnings.

All that government influence is useless if people stop buying your products. And it turns out lots of people don't want to buy products associated with Musk.

[–] Hobbes_Dent@lemmy.world 4 points 20 hours ago (1 children)

Not in this world.

People will be pushed to buy the products. Patriotism, xenophobia, lies, economic fear and tariffs, straight up government manipulation and collusion.

That’s the value Elon has, Zuck is jealous of, Tesla and the shareholders will benefit from, and the people allow.

[–] FlowVoid@lemmy.world 2 points 19 hours ago

I'm sure that Musk hopes that "people will be pushed to buy" his products.

But so far, that plan isn't working. In fact it's backfiring, people are running away from his products.