Tesla results miss estimates as company projects 2025 auto volume growth [Video]

Tesla reported lower than expected profits Wednesday but confirmed key 2025 benchmarks, saying it will return to sales volume growth and move forward with fully autonomous driving.

The results — the first since the return of Tesla CEO Elon Musk’s ally Donald Trump to the White House — capped a mixed year for Tesla in which Musk’s big bet on US electoral politics was countered by profit pressures as Tesla’s streak of annual car volume growth came to an end.

The electric car company reported fourth-quarter profits of $2.3 billion, down 71 percent from the year-ago quarter, where profits were boosted by a one-time tax benefit.

Revenues rose two percent to $25.7 billion, also missing analyst estimates, but reflecting a more than doubling of sales in energy generation and storage.

Musk has sought to temper expectations about Tesla’s near-term financial growth, while employing superlatives in touting Tesla’s autonomous driving and …