Tesla (TSLA, Financial) plans to publish its fourth-quarter 2024 earnings on January 29 after the financial markets end their day. Analysts predict Tesla will release earnings of 76 cents per share with $27.6 billion in sales, which stands at 7% increased earnings and 9.7% more revenue than last year. During the previous month, experts reduced their TSLA profitability projection by 1 cent.
During the fourth quarter, Tesla sold 495,570 vehicles but increased its deliveries by only 2% year-over-year compared to its 500,000-unit target. Car sales are expected to peak at $22.5 billion this year, representing 4.5% more than last year. While Tesla uses discounts and promotions primarily for models Y and S, its automotive profits will drop to 18.9% from 20.1% during the last quarter.
Despite struggling margins, Tesla saw strong growth for its energy storage products, which jumped by 243% over last year. Sales from this segment will expand by 80% to $2.6 billion. The growing supercharging network builds revenues for our services section, which analysts project will reach $2.9 billion.
