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.

As one of the foremost electric vehicle companies in the world, Tesla continues to be an important company to watch in tech, but its Q4 2024 didn’t bring as good of news as investors might have expected. The company put out its latest earnings results, and with it came a miss on both revenue and earnings-per-share (EPS) versus analyst expectations.

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