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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] 63 points 23 hours ago* (last edited 23 hours ago) (13 children)

So more than a third of their net profits come from selling credits they received from the government? Am I understanding that correctly?

[–] [email protected] 20 points 19 hours ago (2 children)

You are. Without the EV credits, Tesla would have folded years ago.

[–] [email protected] 6 points 17 hours ago (1 children)

It's not EV credits it's "cap and trade" carbon credits that they're selling.

[–] [email protected] 1 points 15 hours ago

I’m aware. The collateral for the credits are EV sales, hence my shorthand.

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