Tesla's 1st-ever revenue dip, but Q4 shows some spark
For the first time, Tesla's yearly revenue dropped—down 2.9% to $94.8 billion in 2025, with fewer cars sold and automotive revenue also sliding.
But Q4 brought a bit of good news: Tesla outperformed expectations, pulling in $24.9 billion and earning more per share than Wall Street guessed.
Fewer cars sold, but energy storage hits new highs
Tesla delivered 418,227 vehicles in Q4 (that's 16% less than last year), but made up for it by setting a record for energy storage deployments at 14.2 GWh this quarter.
For the whole year, net income was $3.8 billion—with $840 million coming just from Q4.
Expanding beyond cars: FSD subscribers and big xAI investment
Tesla continues to expand its Full Self-Driving (FSD) subscription service.
The company also invested $2 billion in Elon Musk's xAI project and ramped up total annual energy storage to an impressive 46.7 GWh, showing they're serious about growing beyond just making cars.