The days of never-ending growth are over. Tesla was only able to increase turnover by one per cent last year - and only thanks to its growing energy business.

During the fourth quarter of 2024, Tesla said it earned $2.3 billion in net income on $25.7 billion in revenue. That represents a 1.9 percent increase year over year compared to $25.2 billion in revenue in Q4 2023 and a 70 percent decrease in net income. (The company’s net income in Q4 2023 includes a one-time non-cash tax benefit of $5.9 billion.)

Tesla reported fourth-quarter revenue and adjusted profit below analysts' estimates. Shares initially fell and then rose after the results' release.

Tesla’s Q4 2024 earnings call will take place today, Wednesday, January 29, at 2:30 p.m. PT/5:30 p.m. ET. We’ll be broadcasting it on the Shacknews Twitch channel. You can also find it on Tesla’s investor relations page as a webcast.

Tesla said it sold 1.79 million vehicles in 2024, the first drop in more than a dozen years despite offers of 0% financing, free charging and low-priced leases

By Abhirup Roy and Akash Sriram (Reuters) -Tesla quarterly results fell short of Wall Street targets on Wednesday as financing offers and discounts failed to boost demand for the aging lineup but eroded profit.