André Thierig, plant manager of the Tesla Gigafactory Berlin-Brandenburg, stands at the final inspection of the production of Tesla Model Y electric vehicles.
Patrick Pleul | Picture Alliance | Getty Images
Tesla shares fell about 4% in extended trading on Wednesday after the electric vehicle maker reported earnings and revenue for the fourth quarter that trailed analysts’ estimates.
Here’s how the company did vs. estimates from LSEG:
- Earnings per share: 73 cents, adjusted, vs 76 cents expected
- Revenue: $25.71 billion vs $27.26 billion expected
Tesla’s earnings report follows a steep rally in the company’s stock price tied to the election of President Donald Trump. Tesla CEO Elon Musk was the biggest backer of Trump’s campaign efforts and is now leading the president’s new government efficiency advisory board.
The company’s stock price has rallied sharply since Trump’s victory in November as investors bet that Musk’s influence would lead to both favorable policies and less oversight of his companies.
Operating margin for the quarter came in at 6.2%, narrowing from 8.2% during the same period a year earlier 10.8% in the previous quarter.
In early January, Tesla reported deliveries for the fourth quarter of 495,570. For the full year, deliveries came in at about 1.8 million, marking the company’s first annual decline. Deliveries are the closest approximation of sales reported by Tesla, but are not precisely defined in the company’s shareholder communications.
To end 2024, Tesla offered a range of discounts on inventory vehicles and special discounts for buyers in North America who were referred by another Tesla customer. In China, Tesla cut prices on its popular Model Y SUVs before debuting a refreshed version, the Model Y Juniper.
Story is developing. Check back for updates
