In the latest earnings report, Tesla announced a net income of $2.3 billion on $25.7 billion in revenue for Q4 2024, marking a 70% decrease in net income year over year. For the full year, net income stood at $7.1 billion on $97.7 billion in revenue, reflecting a 6% decline compared to 2023. Concurrently, Elon Musk continues to influence government roles while facing challenges in the EV market, particularly from domestic competitors in China. Investors remain cautious about Tesla's future model plans, especially after the abandonment of the affordable 'Model 2' concept.
...Tesla said it earned $2.3 billion in net income on $25.7 billion in revenue, representing a 70 percent decrease in net income year-over-year.
Despite a refreshed Model Y and a consolidation of power within the government, Tesla faces intense competition and a need for new models in the EV market.
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