Overview
- Tesla reported 2025 net income of about $3.8 billion, marking a second straight yearly decline and its lowest profit since the pandemic.
- Fourth-quarter net income fell 61% to $840 million as vehicle deliveries weakened.
- Full-year deliveries slipped to roughly 1.63 million vehicles and revenue decreased about 3% to $94.8 billion.
- The company attributed the downturn to higher average costs from reduced fixed-cost absorption on some models, rising tariffs and increased operating expenses.
- Shares are up about 9% over the past year as Musk promotes a longer-term shift to robotaxis, with more detail expected on a call later Wednesday.