Tesla Shares Slump After Disappointing Earnings

The EV automaker failed to impress despite the Cybertruck launch. 

TSLA – Daily Chart

TSLA – Daily Chart 

TSLA shares slipped to $186.40 after starting the session above $200. Further, selling could occur if stocks give up a recent run of all-time highs. 

For the fourth quarter, Tesla reported revenue of $25.17 billion against the expected $25.87 billion. In contrast, revenue rose approximately 3% from a year ago. Tesla reported earnings per share of $0.71 against the expected $0.73. Adjusted net income at the company was $2.48 billion against the $2.61 billion expected by Wall Street analysts.

Tesla said its “vehicle volume growth rate may be notably lower than the growth rate achieved in 2023, as our teams work on the launch of the next-generation vehicle at Gigafactory Texas,” hinting it would not reach estimates of 2.19 million for 2024, which would have been a 21% increase over the year. 

Elon Musk did confirm that the company’s next-generation vehicle will be coming in the second half of 2025. However, the Cybertruck arrived two years later. 

“We are focused on bringing the next-generation platform to market as quickly as we can, with the plan to start production at Gigafactory Texas,” a statement said. “This platform will revolutionise how vehicles are manufactured.”  

“We’re very far along on our next-gen low-cost vehicle; we’re really excited about this. This is a revolutionary manufacturing system, far more advanced than any other in the world,” Musk said. The company’s current schedule implies that the vehicle will arrive in the second half of 2025, similar to a report from Reuters earlier in the week, which said Tesla had told suppliers it wants to start production of a new mass-market EV codenamed “Redwood” in mid-2025. 

Unfortunately for investors, the company had been priced for more growth, and recent production dips for the Cybertruck setup have lowered expectations.

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