Tesla’s earnings Live: Shares slip after warning of a speedbump in ’24

Published 1:46 pm Wednesday, January 24, 2024

Tesla shares were falling after hours Wednesday after the company declined for now to offer financial guidance for 2024. 

Tesla  (TSLA) – Get Free Report said, instead, that deliveries would be noticeably lower. 

More detail will come during the company’s earnings call at 5:30 p.m. ET. CEO Elon Musk is expected to participate.

This is a developing story, so check back for updates during the conference call!

Related: Tesla’s highly-anticipated $25,000 car set to start production next year

The disclosures came after the company reported fourth-quarter revenue and earnings that missed Wall Street estimates.

The shares were off more than 2% from the $207.83 close. The close was off 0.6% on the day and are off 16.4% this year.

Image source: Getty Images.

Tesla reported fourth-quarter revenue of $25.2 billion, missing the street estimate of $26.6 billion. Earnings were 71 cents a share. The Street estimate was 74%.

Tesla shares have been pressured in recognition of rising global competition and signs sales are stagnating. 

Related: Veteran fund manager picks favorite stocks for 2024

Marketplace