this post was submitted on 30 Jan 2025
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Tesla’s 2024 financial results are out—and they’re terrible (arstechnica.com)
submitted 1 day 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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[–] Matombo@feddit.org 4 points 9 hours ago (2 children)

i guess time to short it? seems like a bubble

[–] __Lost__@lemmy.dbzer0.com 10 points 7 hours ago (1 children)

The problem is that it has been a bubble for most of its public trading existence. It was highly overvalued 10 years ago, the stock price has never made sense, so who knows when it will finally correct.

[–] buddascrayon@lemmy.world 4 points 6 hours ago (1 children)

All it needs is a couple of opportunistic fuckers to take advantage of chaos and that shit will plummet like a fucking rock.

[–] ouRKaoS@lemmy.today 1 points 1 minute ago

This is the reason they're legislating against all the Chinese EVs that are 90% as good for 40% of the price.

A brand new 12-15k electric car from a competitor would evaporate Tesla's bubble so quick.

[–] iii@mander.xyz 6 points 8 hours ago

Bill Gates is famously shorting TSLA (1)