What you need to know

Written by wordpress January 29, 2025

Tesla (NASDAQ:TSLA) has released its Q4 and FY 2024 earnings results.

Tesla’s fourth quarter and full year 2024 earnings were released in an Update Letter, which was posted on the company’s Investor Relations website after markets closed on January 29, 2025.

Tesla’s Q4 and FY 2024 deliveries:

In the fourth quarter, Tesla delivered a total of 495,570 vehicles, comprised of 471,930 Model 3/Y and 23,640 other models.
In FY 2024, Tesla delivered a total of 1,789,226 vehicles, comprised of 1,704,093 Model 3/Y and 85,133 other models.
The company also deployed 11.0 GWh of energy storage products in Q4.
Total energy storage deployments in FY 2024 were 31.4 GWh, a new record for the company.

Tesla’s Q4 2024 results:

Earnings Per Share (GAAP): $0.66 per share
Earnings Per Share (Non-GAAP): $0.73 per share
Operating Income: $7.1 billion GAAP; $7.1 billion GAAP net income in 2024; $2.3 billion in Q4 including $0.6 billion mark-to-market gain on digital assets.
Total Revenues: $25.7 billion
Total Automotive Revenues: $19.80 billion

Q4 & Full Year 2024 Shareholder Update → https://t.co/sXBSeLibSL

Highlights

– We expect Model Y to become the world’s bestselling car of any kind for the 2nd year in a row

– And it’s become even better, with the New Model Y now launched in all markets. Production will begin… pic.twitter.com/wUrnzI78QN

— Tesla (@Tesla) January 29, 2025

Tesla’s FY 2024 results:

Earnings Per Share (GAAP): $2.04 per share
Earnings Per Share (Non-GAAP): $2.42 per share
GAAP Net Income: $7.09 billion
Non-GAAP Net Income: 8.4 billion
Total Revenues: $97.7 billion
Total Automotive Revenues: $77 billion

What Wall Street Expected:

Analysts tracked by Bloomberg expect Tesla to post the following:
EPS: $0.75 per share.
Sales: $27.2 billion

Key Updates:

On Volume: Tesla expects its vehicle business to return to growth in 2025.
Profit: While Tesla expects its hardware-related profits to be accompanied by an acceleration of AI, software and fleet-based profits.
Product: Plans for new vehicles, including more affordable models, remain on track for start of production in the first half of 2025.