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 is expected to report earnings after Wednesday's close and here is a closer look at what Wall Street expects.

Tesla said it sold 1.79 million vehicles in 2024, the first drop in more than a dozen years despite offers of 0% financing, free charging and low-priced leases

Tesla’s fourth-quarter earnings report lands just over a week after President Donald Trump began his second term in the White House, with Elon Musk right by his side.

Tesla shareholders expect answers from Elon Musk regarding his political involvement, including his advisory role in Donald Trump's administration and controversial gestures during the presidential inauguration.