The electric-car maker reported net income of $2.5 billion, a result driven in part by strong growth in Tesla’s energy business.

Tesla's fourth-quarter net income fell 71% from a year ago, when results were boosted by a one-time tax benefit.

Tesla, IBM and Meta Platforms helped lead most U.S. stocks higher on Thursday following a rush of profit reports from some of the country’s most influential companies. The S&P 500 rose 0.5%, as four out of every five stocks in the index climbed.

Tesla reported fourth-quarter earnings on Wednesday afternoon, and investors looked past revenue and per-share profit misses to focus on news the company kept its goal to launch cheaper EVs in the first half of the year and vowed to have fully autonomous cars on the roads in Austin,

Elon Musk said Tesla will begin launching unsupervised self-driving models in Austin, Texas by June and several other U.S. cities by the end of 2025.