Tesla Reports Fourth Quarter Net Income Fell By 71%

CBS News reports:

Tesla’s fourth-quarter net income fell 71% from a year ago when results were boosted by a one-time tax benefit. The latest results fell short of Wall Street forecasts.

The electric vehicle company run by Elon Musk said Wednesday that it made $2.31 billion from October through December, less than the $7.93 billion profit it posted in the same period in 2023.

Tesla stock fell more than 2% after trading closed Wednesday, but rose back up after the report, despite the lower-than-expected results. Shares are still up more than 50% since Donald Trump was elected president as investors expect Musk’s advisory role in the new administration will help the company.

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Tesla’s fourth-quarter net income fell 71% from a year ago when results were boosted by a one-time tax benefit. The latest results fell short of Wall Street forecasts.

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— CBS News (@CBSNews) January 30, 2025