For the fourth time in a row, 's (NASDAQ: TSLA) stock price dove following its earnings report release.

Share prices of the leading electric vehicle (EV) maker finished down 12.1% on Thursday after the company missed estimates on the top and bottom lines and offered a weak production forecast for 2024. CEO Elon Musk said the company was between two major growth waves, indicating that investors would have to be patient until new products help reaccelerate Tesla's growth rate.

Tesla's automotive revenue growth slowed to just 1% year over year, reaching $21.6 billion, and overall revenue grew just 3% to $25.2 billion. Additionally, profits continued to tumble, with gross margin slipping from 23.8% in the quarter a year ago to 17.6% in Q4 2023, and operating income fell 47% to $2.06 billion.

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Source Fool.com