Tesla's fourth-quarter net income fell 71% from a year ago when results were boosted by a one-time tax benefit. The latest results fell short of Wall Street forecasts.
Tesla’s fourth-quarter results fall short of Wall Street estimates as rivals steal customers
Tesla's fourth-quarter net income fell 71% from a year ago when results were boosted by a one-time tax benefit. The latest results fell short of Wall Street forecasts.
The electric vehicle company run by Elon Musk said Wednesday that it made $2.31 billion from October through December, less than the $7.93 billion profit it posted in the same period in 2023.
Excluding one-time items in both periods, the Austin, Texas, company’s profits rose 3% to 73 cents a share, still not enough to meet analysts’ estimate of 77 cents a share.
Revenue in the quarter rose 2% to $25.7 billion, less than Wall Street forecast for $27.1 billion, according to FactSet.