Tesla Reports First Annual Revenue Decline Amidst Tech Earnings Surge
Tesla reported its first-ever annual decline in revenue, marking a notable event on a day filled with corporate earnings reports from major tech companies, including Meta and Microsoft, according to Al Jazeera. The electric car company, led by Elon Musk, announced that its revenue fell 3% year-on-year to $24.9 billion in the final quarter of 2025. For the entire year, Tesla's revenue totaled $94.8 billion, a decrease from the $97.7 billion recorded the previous year.
The news came as Meta, the parent company of Facebook, revealed plans to significantly increase its spending on artificial intelligence (AI) projects. Meta expects to spend up to $135 billion this year, primarily on AI-related infrastructure, nearly double the $72 billion spent in 2025, according to BBC Business. Mark Zuckerberg, Meta's boss, stated that he anticipates "2026 to be the year that AI dramatically changes the way we work." Over the past three years, Meta has invested approximately $140 billion in an effort to lead the AI boom.
In other economic news, the US Federal Reserve decided to hold interest rates steady, maintaining its key lending rate between 3.5% and 3.75%, reported BBC Business. The Fed cited that economic activity in the US "has been expanding at a solid pace." Federal Reserve Chair Jerome Powell also defended the importance of central bank independence amidst past criticism from former US President Donald Trump.
Meanwhile, water bills in England and Wales are set to rise again in April, with the average annual bill increasing by £33 to £639, according to BBC Business. Water UK, the industry trade body, stated that the bill increases are necessary to fund essential upgrades to the system and address spillages.
Geopolitical tensions also remained high, with the United States intensifying its military build-up off the coast of Iran, according to Al Jazeera. The USS Abraham Lincoln, a nuclear-powered aircraft carrier, was among the military assets deployed to the Arabian Sea. This build-up follows the Iran-Israel War in June 2025, during which the US sided with Israel and bombed Iranian targets.
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