TSLA — Q4 2025 Earnings Call
Consumer CyclicalTesla Inc. • Reported: 2026-01-29
EPS Actual
$1.05
Est. $0.95
▲ Beat
Revenue Actual
$32.1B
Est. $30.8B
▲ Beat
Overall Result
Double Beat
EPS + Revenue vs. estimates
Period
Q4 2025
FY2025 • Reported 2026-01-29
Executive Summary
Tesla reported record Q4 2025 revenue of $32.1 billion, up 25% YoY, driven by Model Q ramp and energy storage. Full-year 2025 deliveries reached 2.1 million, up 17% from 2024. Robotaxi revenue was disclosed for the first time at $340 million for the quarter.
Key Highlights
Revenue
positive
Record Q4 revenue
Q4 revenue of $32.1B beat estimates by $1.3B, growing 25% YoY on Model Q demand.
Deliveries
positive
2.1M annual deliveries
Full-year 2025 deliveries of 2.1M, up 17%, recovering from the 2024 decline.
Robotaxi
positive
Robotaxi revenue $340M
Tesla disclosed robotaxi revenue of $340M in Q4, its first quarter of meaningful autonomous ride-hailing revenue.
Margins
positive
Margins fully recovered
Automotive gross margin reached 21.5%, driven by Model Q scale and reduced cost per vehicle.
Energy
positive
Energy segment record
Energy storage deployments exceeded 40 GWh for full-year 2025, with the segment now profitable.
Direct Quotes
EM
Elon Musk
CEO • 2025 Summary
"2025 was a transformative year. Model Q is a hit, robotaxi is generating real revenue, and Optimus is preparing for external deployment in 2026."
VT
Vaibhav Taneja
CFO • Record Results
"We achieved record revenue of $32.1 billion with significantly improved profitability. Full-year free cash flow exceeded $10 billion."