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Tesla (NASDAQ: TSLA) has now disclosed its earnings for the fourth quarter of 2024, managing to post broadly negative results relative to Wall Street's consensus expectations.
Tesla (TSLA) Q4 2024 Earnings
Revenue In Billions Of Dollars
Tesla has reported $25.707 billion in revenue for the fourth quarter of 2024, badly missing consensus expectations of $27.3 billion. The reduction in the company's ASP played a major role in this miss.
Tesla's Segmental Revenue In Millions Of Dollars
The above chart gives a segmental overview of Tesla's top-line metric.
The following snippet summarizes the EV giant’s production activities during the quarter:
As we reported earlier this month, Tesla delivered 495,570 units in Q4 2024 against a production level of 459,445 units.
For the entire 2024, Tesla delivered 1,789,226 EVs, falling short of its stated guidance that it would exceed 2023's total deliveries of 1.81 million units.
Tesla's Auto Gross Margin (ex-Regulatory Credits)
Moreover, Tesla's auto gross margin (ex-Regulatory Credits) printed at 13.59 percent for the just-concluded quarter against consensus expectations of 16.20 percent.
Hi everyone,
• I estimate Tesla will miss the Q4 consensus for EPS.
• Based on my calculations, Tesla lost over $10,000 per Cybertruck in Q4 2024.
• Additionally, my analysis shows Tesla’s gross margin in China has been negative for the last three quarters, but the January 10… pic.twitter.com/mUti1Q8gRv— Troy Teslike (@TroyTeslike) January 28, 2025
Finally, the EV giant has announced $0.73 in non-GAAP (adjusted) EPS, missing consensus expectations of $0.77.
1/3 ~$600mn, or 17c of the 73c $TSLA reported in Q4 came from the marking up the value of their #Bitcoin (NOT selling it, but, rather, marking it up). And, that ~$600mn carried with it 100% net margins. So, excluding an accounting parlor trick, or looking at $TSLA's core... pic.twitter.com/eB5YYjpTUW
— Gordon Johnson (@GordonJohnson19) January 29, 2025
Tesla also recognized over half a billion dollars in gains from the upward revaluation of its Bitcoin holdings.
The following snippet summarizes the company's latest guidance:
While earlier the EV giant's stock was down around 4 percent in after-hours trading, it just turned positive. Investors are reacting to Tesla's broad-based miss on almost all metrics. The ensuing carnage, however, is currently being limited by Tesla's guidance, which sees its energy business growing by 50 percent year-over-year in 2025 as well as the fact that Tesla's rollout of new models remains on track.
BREAKING: Elon Musk says @Tesla will be launching Unsupervised FSD as a paid service in Austin, Texas in June of this year.
"No one in the car. Full service."
— Sawyer Merritt (@SawyerMerritt) January 29, 2025
During the earnings call, Elon Musk announced that Tesla's unsupervised FSD service will launch in Austin, Texas by June 2025.
Elon said Tesla will have to upgrade the HW3 cars, will be painful but we'll get it done.
And was glad many people didn't buy FSD 😀
— The AI Investor (@The_AI_Investor) January 29, 2025
However, he also stated that HW3 cars will have to be upgraded, conceding that the step would be "painful."
On the year's outlook, Musk declared:
"2025 is a pivotal year for Tesla. When people look back on 2025 and the launch of Unsupervised FSD, they may regard it as the biggest year in Tesla's history; It will be regarded as the most important year in Tesla's history."
ELON ON WHEN $TSLA OPTIMUS IS LAUNCHING:
“So, right now we are just focused on Optimus doing the most boring task in our Tesla factories internally. Like, the stuff that no one wants to. Optimus is very happy to do all the boring jobs. Our goal is to build a production line that… pic.twitter.com/rmcoHG9HOd
— amit (@amitisinvesting) January 29, 2025
Elsewhere, while alluding to the $10 trillion opportunity around the Optimus robot, Elon Musk declared that initial commercial deliveries will take place by "the second half of next year." He also noted:
"We plan to ramp Optimus production faster than anything has ever been ramped. An order of magnitude per year; That's the kind of growth we are talking about; It won't be long before we are making 100 million of these things per year."
At the conclusion of the earnings call, Tesla shares are up ~5 percent in after-hours trading.
