During the fourth quarter of 2024, Tesla said it earned $2.3 billion in net income on $25.7 billion in revenue. That represents a 1.9 percent increase year over year compared to $25.2 billion in revenue in Q4 2023 and a 70 percent decrease in net income. (The company’s net income in Q4 2023 includes a one-time non-cash tax benefit of $5.9 billion.)

The electric car company run by Elon Musk is facing increasing competition, but investors have focused mostly on the prospects for Tesla’s self-driving technology.

Tesla will launch an “unsupervised, no one in the car” robotaxi service in Austin, Texas, in June, Elon Musk said in an earnings call Wednesday. “We just want to put a toe in the water, make sure everything’s okay, put a few more toes in the water, with safety of the general public and those in the car as a top priority,” Musk said.

Tesla CEO Elon Musk said Wednesday his company will launch a paid ride-hailing robotaxi service in Austin, Texas using its own fleet vehicles this coming

Elon Musk said Tesla will begin launching unsupervised self-driving models in Austin, Texas by June and several other U.S. cities by the end of 2025.

The final earnings release of 2024 finalized another difficult year for Tesla’s bottom line, as its full-year net income came in at $8.4 billion, a 23% decrease from 2023 and a 40% decline from 2022’s record $14.1 billion profit, though its full-year revenue rose $97.7 billion, a 1% improvement from 2023’s record.

Tesla (TSLA) reported fourth-quarter revenue and adjusted profit below analysts' estimates in extended trading Wednesday. Shares initially fell and then rose after the results' release. Tesla posted net income of $2.

Tesla reported weaker-than-expected earnings. Shares were down shortly after the results were released. For the fourth quarter, Tesla announced earnings per share of 73 cents. Wall Street was looking for 75 cents,