Tesla Reports Below-Expected Earnings and Revenue in Fourth Quarter

Tesla's fourth-quarter revenue totaled $25.7 billion, falling $1.5 billion short of expectations, which represented an unusual earnings setback for the company. The net income reached $2.5 billion, slightly below forecasts, with a profit margin of 13.6%, lower than the projected 16.2%. Automotive revenue for Tesla decreased by 8% to $19.8 billion, missing Wall Street's sales growth projections. As for future plans, the company remains on schedule to begin production of more affordable models in early 2025, while the launch of the Cybercab robotaxi is anticipated for 2026.