The Tesla share slides as revenue, adjusted profits lacking estimates

Tesla (TSLA) shares fell 2.5% into expanded trade on Wednesday after the electric vehicle manufacturer’s turnover in the fourth quarter and adjusted profits came lower than expectations.

Tesla had a net income of $ 2.32 billion or $ 0.66 per year. Share on a $ 25.71 billion turnover. Analysts tuned by visible alpha expected profit of $ 2.33 billion or 66 cents per day. Share on a $ 27.35 billion turnover. Adjusted earnings per Share (EPS) of $ 0.73 came at 5 cents under estimates.

The results come after Teslas Q4 supplies and production figures came under estimates earlier this month. The EV-Maker recorded a decrease in the year over year for the first time and slipped to 1.79 million by 2024 from 1.81 million the year before.

Analysts have said that the company is likely to benefit from CEO Elon Musk’s proximity to President Donald Trump, where they raise their price targets, as Tesla shares have gathered approx. 60% since the November 5th election.

Tesla shares had finished Wednesday’s regular session down more than 2% to $ 389.10, more than double their price from 12 months ago.