According to Tesla's quarterly report, the company made $2.3 billion in net income in Q4 2024. Net income is the amount the company actually made after subtracting its expenses from its revenue total. That's a whopping 70 percent decrease in net income compared to Q4 2023.

Tesla's fourth-quarter net income fell 71% from a year ago, when results were boosted by a one-time tax benefit.

Meta Platforms, Tesla and most other U.S. stocks are rising Thursday following a rush of profit reports from some of the country’s most influential companies.

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