Tesla's profits slide over 70 percent in the fourth quarter

theweatherelectric writes: Andrew J. Hawkins for the Verge writes, "It’s one week into Elon Musk’s new role as chief cost-cutter for the Trump administration, but today, his side hustle as CEO of Tesla takes center stage with the release of the company’s latest earnings report. During the fourth quarter of 2024, Tesla said it earned $2.3 billion in net income on $25.7 billion in revenue. That represents a 1.9 percent increase year over year compared to $25.2 billion in revenue in Q4 2023 and a 70 percent decrease in net income."