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.

Though Tesla’s shares doubled over the past 12 months, they’ve had a tough run since the inauguration. Investors are waiting to see if Elon Musk can keep the company’s charmed run going.

Tesla (NASDAQ:TSLA) came out of its Q4 2024 earnings call in bright spirits, despite weakening EV delivery and sales numbers. The market

Tesla reported fourth-quarter earnings on Wednesday afternoon, and investors looked past revenue and per-share profit misses to focus on news the company kept its goal to launch cheaper EVs in the first half of the year and vowed to have fully autonomous cars on the roads in Austin,

In many ways, these have been tough days for Tesla. Falling sales. Squeezed profit margins. Proposed changes in US government policy that could cost the company billions.

Investors are looking for evidence Musk’s politics are hurting Tesla. It’s hard to find, but California might be turning against Musk—slowly.