40 percent of its profit came from selling regulatory credits.

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.

  • rumba@lemmy.zipEnglish
    3·
    4 hours ago

    Service being up 30% is a bad thing for the consumer. For a vehicle that doesn’t require much at all in the way of service…

    • boonhet@lemm.eeEnglish
      1·
      3 hours ago

      I’m not sure what Services means there though. It could very well include subscriptions rather than the actual servicing of their cars? Or maybe both?

      • rumba@lemmy.zipEnglish
        1·
        1 hour ago

        re though. It could very well include subscriptions rather than the actual servicing of their cars? Or maybe both?

        true. the report is very very vague