Tesla's financial results for 2024 reveal substantial challenges, particularly in its automotive segment, which faced an 8% decline in Q4 revenues. While energy generation and storage revenues saw a notable increase of 67%, automotive revenues still declined overall by 6% for the year. The company experienced a significant 53% drop in net profits, leading to its worst financial performance since 2021. Despite a modest total revenue growth of only 1%, the company’s share price rose by 103%, highlighting a disconnect between market perception and fundamental financial performance.
Tesla's automotive revenues faced an 8% decline in Q4 2024, with a total year decline of 6% compared to 2023, amidst a notable profit drop.
While total revenue grew slightly, net profits saw a staggering 53% drop in 2024, marking Tesla's most challenging financial year since 2021.
Energy generation and storage revenues soared by 67%, contributing slightly to overall revenue, yet automotive sales remained the primary concern for Tesla's profitability.
The growth in Tesla's share price by 103% this year contrasts sharply with the company's falling net profits, raising concerns among investors about sustainability.
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