Tesla revenue slips in 2025 as energy unit grows and vehicle sales fall

Core Insights - Tesla reported a decline in automotive revenue and earnings for both Q4 and the full year of 2025, while its energy operations showed growth [1][2] Financial Performance - Total revenue for Q4 decreased by 3% to $24.90 billion, with automotive revenue dropping 11% to $17.69 billion [1] - For the full year, total revenue edged down 3% to $94.82 billion, with automotive revenue falling 10% to $69.52 billion [2] - Net income attributable to common stockholders fell 61% to $840 million in Q4, with diluted earnings per share decreasing from $0.60 to $0.24 [2] - Annual net income decreased 46% to $3.79 billion, with diluted EPS dropping from $2.04 to $1.08 [3] - Quarterly operating income fell 11% year-over-year to $1.40 billion, resulting in an operating margin of 5.7% [2] Growth Areas - Energy generation and storage revenue increased by 25% to $3.84 billion in Q4, and for the full year, it climbed 27% to $12.8 billion [1][2] - Services and other income rose 18% to $3.37 billion in Q4 and 19% to $12.53 billion for the full year [1][2] - Energy storage deployments reached 46.7 GWh during the year, marking a 49% increase [4] Production and Deliveries - Vehicle deliveries in Q4 declined 16% year-on-year to 418,227 units, while production slipped 5% to 434,358 units [3] - For the full year, deliveries fell 9% to 1.63 million vehicles, and output dropped 7% to 1.65 million units [4] Infrastructure and Future Plans - By year-end, Tesla operated 1,553 locations and 8,182 Supercharger stations with 77,682 connectors [5] - The company is preparing for production ramps of Tesla Semi and Cybercab in the first half of 2026, alongside the next-generation Roadster [5] - Plans to invest in infrastructure supporting clean energy, transport, and autonomous robots include six new production lines across vehicles, robotics, energy storage, and batteries [5]