Tesla Beats Q4 Estimates With Robotaxi Focus, Stock Jumps 3%
Tesla's fourth-quarter earnings surprised analysts with adjusted EPS of $0.50 versus $0.45 expected, sparking a 3% after-hours stock rally. Revenue dipped slightly to $24.9 billion, but operating income of $1.41 billion exceeded forecasts. The automaker announced a radical pivot: ending Model S/X production to prioritize robotaxi development and a $20 billion capex plan.
Gross margins outperformed at 20.1%, defying bearish projections. Elon Musk confirmed Semi and Cybercab production starts in early 2026, alongside six new manufacturing lines. The Optimus robot project accelerates, with V3 unveiling scheduled for Q1 2025 and mass production targeting 1 million units annually by 2026.