Tesla (TSLA) Q4 2025 earnings

Tesla plans to report fourth-quarter 2025 earnings after the bell on Wednesday.

According to analysts participating in the LSEG survey, Wall Street’s expectations for the quarter are as follows:

• Earnings per share: 45 cents expected
• Revenues: $24.79 billion is expected

Tesla’s revenues have slowed in recent quarters as the company faces a competitive onslaught from BYD in various parts of the world, particularly in China.

Analysts expect to see revenue decline for the third time in the latest fourth quarter; the average estimate shows a 3.6% decrease from $25.7 billion a year ago. Revenue for the full year is expected to be approximately $95 billion; This represents a decline of 2.8% from 2024 and represents the first annual decline on record for the company.

Earlier this month, Tesla reported a 16% decline in vehicle deliveries in the fourth quarter and an 8.6% decline for the full year. Deliveries are the closest approximation to sales reported by Tesla but are not precisely defined in the company’s shareholder communications.

Even though Tesla’s core business has been struggling, CEO Elon Musk has tried to focus investors’ attention elsewhere. In particular, he touted the company’s nascent Robotaxi business and its yet-to-be-released Optimus humanoid robots.

After a brutal start to 2025, Tesla’s shares recovered after the rise in the third quarter and finished the year up 11%.

On the Say Technologies forum that Tesla uses to take investor questions for earnings calls, some of the top-voted entries as of Tuesday were about the company’s plans for partially automated driving systems and a driverless ride-hailing service, marketed in the U.S. as Fully Autonomous (Supervised).

In 2025, Tesla launched a ride-hailing app branded Robotaxi, and the company is running a pilot service in Austin, Texas. Last week, Tesla executives said they were enlisting human safety auditors from a handful of cars in its Austin fleet to conduct driverless passenger rides.

The company also operates a ride-hailing service with human drivers at the wheel in the San Francisco area, where it is not allowed to operate self-driving vehicles without a human behind the wheel, even for testing purposes.

Meanwhile, alphabet Waymo service continues to expand commercially in the US and Baidu’s Apollo Go continues to grow in Asia.

Some investors have raised questions about Musk’s other companies, including xAI, and whether he plans to invest in Tesla’s artificial intelligence startup, and whether Tesla shareholders will have any special access to invest in the eventual SpaceX IPO. Musk said he wants to take the aerospace and defense contractor company public in 2026.

While investors expect to hear about chip technology that will support Tesla’s autonomous driving and robotics efforts, capital expenditures will be another topic in the conversation. At Tesla’s annual shareholder meeting in November, Musk said the company would continue producing new chips with Samsung and Taiwan Semiconductor Manufacturing. Ltd.

Analysts surveyed by FactSet expect Tesla’s capital expenditures to increase from $9.5 billion projected in 2025 to $11 billion this year.

Tesla’s call with analysts is scheduled to begin at 5:30 pm ET.

WRISTWATCH: Robotaxi will be the main focus of Tesla’s earnings call