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Tesla Inc (NASDAQ: TSLA) shares surged 4% in after-hours trading despite missing Wall Street’s fourth-quarter revenue estimates. The electric vehicle (EV) giant reported revenue of $25.71 billion, below analysts’ expectations of $27.23 billion, as demand slowed. Adjusted earnings per share stood at $0.73, missing the $0.76 consensus.
Tesla’s gross margin was 16.3%, while its operating margin hit 6.2%, reflecting ongoing pricing pressures and competition in the EV market. The company has faced challenges, including increasing competition, fluctuating consumer demand, and strategic price cuts aimed at sustaining sales momentum.
Despite these hurdles, Tesla remains optimistic about its long-term growth. The company expects the Model Y to maintain its position as the world’s best-selling vehicle in 2024. Additionally, Tesla outlined its upcoming Cybercab robotaxi, which will use an "unboxed" manufacturing process. Production is set to ramp up in 2026, with a U.S. rollout of its robotaxi business anticipated this year, pending regulatory approval.
Looking ahead, Tesla projects over 60% production growth beyond 2024 levels before further manufacturing investments are needed. The company is also advancing its supervised Full Self-Driving (FSD) technology, targeting launches in Europe and China by 2025.
With a focus on innovation and expansion, Tesla continues to navigate a competitive market while preparing for a new phase of growth. Investors reacted positively to the forward-looking outlook, driving the stock higher in after-hours trading.
