Tesla CEO Elon Musk attends the US-Saudi Investment Forum held at the Kennedy Center in Washington, DC, USA on Wednesday, November 19, 2025.
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Tesla is scheduled to report its fourth quarter 2025 financial results after the bell on Wednesday.
Here’s what Wall Street expects this quarter, according to analysts surveyed by LSEG.
Earnings per share: 45 cents Expected revenue: $24.79 billion expected
Tesla’s earnings have been weak in recent quarters as it faces stiff competition around the world, particularly from China’s BYD.
Analysts expect sales to decline for the third time in the past four quarters, with the average forecast calling for a 3.6% decline from $25.7 billion in the same period last year. Full-year sales are expected to be about $95 billion, down 2.8% from 2024 and the company’s first-ever annual sales decline.
Tesla reported earlier this month that car deliveries fell 16% in the fourth quarter and 8.6% for the full year. Deliveries are the closest thing to Tesla’s reported sales, but they are not precisely defined in the company’s shareholder communications.
As Tesla’s core business struggles, Chief Executive Officer Elon Musk is trying to focus investors’ attention elsewhere. In particular, it touts the company’s nascent robotaxi business and Optimus, a humanoid robot that has not yet come to market.
After a tough start to 2025, Tesla stock soared in the third quarter before rebounding and ending the year up 11%.
On the Say Technologies Forum, which Tesla uses to solicit questions from investors during its earnings calls, some of the most popular entries as of Tuesday concerned the company’s partial self-driving system, sold in the U.S. as fully self-driving (with supervision), and plans for a driverless ride-hailing service.
Tesla launched a Robotaxi-branded ride-hailing app in 2025 and is operating a pilot service in Austin, Texas. Tesla executives announced last week that the company had placed human safety observers in several of its vehicles in Austin and conducted driverless passenger rides.
The company also operates a ride-hailing service with a human at the wheel in the San Francisco area, where it doesn’t have permission to operate driverless vehicles without a human at the wheel, even for testing purposes.
meanwhile, of the alphabet Waymo services continue to expand commercially in the United States; Baidu’s Apollo Go continues to grow in Asia.
Some investors raised questions about Musk’s other companies, including xAI, and whether Tesla plans to invest in artificial intelligence startups, and asked whether Tesla shareholders could get special access to invest in a future SpaceX IPO. Musk has said he wants to take the aerospace and defense contractor public in 2026.
Capital spending is also likely to be another topic on the call, as investors await announcements about the chip technology that will support Tesla’s self-driving and robotics efforts. At Tesla’s annual shareholder meeting in November, Musk said the company would work with Samsung and Taiwan Semiconductor Manufacturing Co. to produce new chips. Co., Ltd.
Analysts surveyed by FactSet expect Tesla’s capital spending to rise to $11 billion this year from an expected $9.5 billion in 2025.
The conference call between Tesla and analysts is scheduled to begin at 5:30 p.m. ET.
WATCH: Robotaxis will be a major focus of Tesla’s earnings call
