4 days ago

Tesla Bear Expects EV Giant's Earnings To Fall Below Bullish Estimates In 2025, Notes Majority Of Company's Revenues Come From Car Deliveries

GLJ Research LLC CEO and Tesla Inc. (NASDAQ:TSLA) bear Gordon Johnson on Wednesday slammed bulls for their high price targets based on the assumption that the Elon Musk-owned company is “more than a car company.”

What Happened: “2025E appears set to disappoint the Wall Street bulls taking up their price targets on the idea “$TSLA is not a car company” – i.e., despite the fact that ~88% of its revs came from selling cars in 4Q24,” Johnson said in a post on social media platform X.

While automotive revenue accounted for most of Tesla’s fourth-quarter revenue, it was only at 77%, lower than what Johnson claims in his post. The company reported a total revenue of $25.71 billion, of which automotive revenue accounted for $19.8 billion, or roughly 77%. The remaining revenue came from the company’s energy generation, storage, and service segments.

“$TSLA is a company valued for exponential growth that has not grown in its most profitable/important market (i.e., California, or 33% of $TSLA’s 2024 US sales of ~691K) five consecutive quarters,” Johnson said while adding that demand in ...

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