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 reported fourth-quarter revenue and adjusted profit below analysts' estimates. Shares initially fell and then rose after the results' release.

Tesla’s fourth-quarter net income fell 71% from a year ago when results were boosted by a one-time tax benefit

Tesla said it sold 1.79 million vehicles in 2024, the first drop in more than a dozen years despite offers of 0% financing, free charging and low-priced leases

Tesla posted a rare earnings miss for the last quarter of 2024, coupled with disappointing results amid weak sales and revenue leading to thinning profit margins.

By Abhirup Roy and Akash Sriram (Reuters) -Tesla quarterly results fell short of Wall Street targets on Wednesday as financing offers and discounts failed to boost demand for the aging lineup but eroded profit.