AI Summary:
Tesla’s 2024 financial results were disappointing, with several key points highlighted:
- Automotive Revenues: Fell by 8% in Q4 2024 compared to Q4 2023, totaling $19.8 billion.
- Energy and Storage Revenues: More than doubled, growing by 113% to $3 billion in Q4 2024.
- Services: Grew by 31% in Q4 2024, contributing $2.8 billion.
- Total Revenue: Increased by 2% in Q4 2024, but income fell by 23%, with an operating margin of 6.2%.
- Net Profits: Dropped by 71% to $2.3 billion in Q4 2024.
- Annual Performance: Automotive revenues decreased by 6% to $77 billion in 2024. Energy generation and storage increased by 67% to $10 billion. Services grew by 27%, bringing in $10.5 billion.
- Gross Profits: Fell by 1%, with net profits dropping by 53% to $7.1 billion for the year.
- Free Cash Flow: Decreased by 18% to $3.6 billion.
- Regulatory Credits: $2.8 billion of profit came from selling regulatory credits, not from core business activities.
- Future Predictions: Tesla expects energy storage revenues to grow by at least 50% year-over-year and aims to grow automotive sales by more than 60% in 2025.
Despite the poor financial results, Tesla’s share price increased by 103% over the same period.
The problem is that it has been a bubble for most of its public trading existence. It was highly overvalued 10 years ago, the stock price has never made sense, so who knows when it will finally correct.
Historically they were technically right. Tesla has always been priced by emotion rather than fundamentals. However it’s not enough to be technically correct when you lose money on that bet. And they almost always lost money.
It’s always been a bubble but that has lasted much longer than most bubbles and no one can predict when it’s pop
It’s a memestock now. Aspirational tech-bros are buying it because they want to own the libs, too.
All it needs is a couple of opportunistic fuckers to take advantage of chaos and that shit will plummet like a fucking rock.
This is the reason they’re legislating against all the Chinese EVs that are 90% as good for 40% of the price.
A brand new 12-15k electric car from a competitor would evaporate Tesla’s bubble so quick.