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.

Electric vehicle pioneer Tesla (NASDAQ:TSLA) fell short of the market’s revenue expectations in Q4 CY2024 as sales rose 2.1% year on year to $25.71 billion. Its non-GAAP profit of $0.73 per share was 5.

Tesla’s Q4 2024 earnings call will take place today, Wednesday, January 29, at 2:30 p.m. PT/5:30 p.m. ET. We’ll be broadcasting it on the Shacknews Twitch channel. You can also find it on Tesla’s investor relations page as a webcast.

Tesla expects capital expenditure to exceed $11 billion this year and in each of the following two fiscal years, the elctric automaker said in a filing on Thursday. The company had said in October it expected spending to be between $8 billion and $10 billion in 2026.

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 posted a rare earnings miss for the last quarter of 2024, coupled with disappointing results amid weak sales and revenue leading to thinning profit margins.