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Tesla’s 2024 financial results are out—and they’re terrible (arstechnica.com)

submitted 1 day ago by [email protected] to c/[email protected]

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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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[–] [email protected] 29 points 1 day ago (4 children)

That’s ok, I’m sure a big government bailout is on the horizon for JUST the struggling, American EV auto maker, because their CEO sucked the president’s dick the best.

[–] [email protected] 7 points 1 day ago (3 children)

They have $3.6B in free cash flow. This is just a decrease from last year, which was a record, to this year, a year in which new car sales outside of China are massively down everywhere.

[–] [email protected] 4 points 1 day ago

Also remember that Tesla owns I think just shy of 10K Bitcoins that actually allowed its numbers this quarter by $600 million. And the way Trump has his minions pulling all crypto regulations look for Tesla to exploit it to the max going forward. Maybe they'll even buy some $TRUMP coins and announce $ELON coins for foreign entities looking to launder money destined for the White House.

Source: CNBC: Tesla Reports $600 Million Profit

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