特斯拉Q4业绩胜预期 全年收入历来首度下滑

Core Viewpoint - Tesla reported a fourth-quarter operating profit of $1.41 billion, exceeding analyst expectations of $1.32 billion [1] - Adjusted earnings per share were $0.50, better than the market estimate of $0.45 [1] Financial Performance - Operating revenue for the fourth quarter was $24.9 billion, below analyst expectations of $25.11 billion, representing a year-over-year decline of 3% [1] - The fourth-quarter gross margin was reported at 20.1%, higher than the analyst expectation of 17.1% [1] - Free cash flow (FCF) was recorded at $1.42 billion, less than the market estimate of $1.59 billion [1] - Cash, cash equivalents, and total investments at the end of the quarter amounted to $44.06 billion [1] Future Outlook - The company projected a decrease in annual operating revenue from $97.7 billion in 2024 to $94.8 billion, marking a 3% decline and the first annual revenue drop in its history [1] - The decline in performance is attributed to a decrease in vehicle deliveries and reduced regulatory credit income [1] Strategic Initiatives - CEO Elon Musk announced the discontinuation of Model S and Model X production, reallocating resources to the development of the humanoid robot Optimus, with the first generation product line currently being established [1] - Tesla is on track with the CyberCab, Semi, and Megapack3, which are part of the 2026 planning [1] - The company plans to launch six new product lines and further invest in clean transportation infrastructure [1] - Tesla has reached a framework agreement with xAI to invest $2 billion in purchasing a series E preferred stock [1]