Tesla reported better-than-expected fourth-quarter results after the bell on Wednesday, but revenue for the year dropped 3%, the first time on record the company has recorded an annual decline. The stock rose 3% in extended trading.
Here's how the company did, compared with estimates from analysts polled by LSEG:
Earnings per share: 50 cents, adjusted vs. 45 cents, estimated
50 cents, adjusted vs. 45 cents, estimated Revenue: $24.90 billion vs $24.79 billion, estimated
Auto sales have been sluggish in recent quarters for Tesla, as the company faces an onslaught of competition in various parts of the world, most notably from BYD in China.
Revenue in the fourth quarter slid 3% from $25.7 billion a year earlier, with the auto segment falling 11% to $17.7 billion from $19.8 billion.
Full-year revenue fell to $94.8 billion from $97.7 billion in 2024, the company said in an earnings release. The decline was caused, in part, by a "decrease in vehicle deliveries, and "lower regulatory credit revenue," Tesla said.
Earlier this month, Tesla reported a 16% plunge in vehicle deliveries for the fourth quarter and 8.6% decline for the full year. Deliveries are the closest approximation of sales reported by Tesla, but are not precisely defined in the company's shareholder communications.