TSLA (Tesla) is set to report earnings on Wednesday after the closing bell. The enormous data leak comes just a few weeks after the company’s robotaxi event, which not only failed to pique investors’ interest but also resulted in billions of dollars being sucked from Tesla’s market capitalization.
Elon Musk is now facing another test: will Tesla be able to deliver a successful earnings report or will it fail investor safety?
TSLA’s revenue of $25.4 billion, significantly more than the $23.4 billion recorded in the same period previous year. Earnings per share were 48 cents, nearly 10% lower than the year-ago quarter’s 53 cents.
Net income is expected to be $1.68 billion, down to $1.85 billion last year. The September quarter’s deliveries marginally above mid-range projections, with 462,890 automobiles shipped.
The Wall Street analysts disagree on Tesla’s share price direction. While the average price is set at $223 per share, nine of the 19 analysts tracked by Visible Alpha have issued “buy” recommendations.
Seven are in favour of holding the stock, while three are selling it. Tesla’s stock has been turbulent this year, dropping 40% at one point before rising for the year and then falling roughly 11% at the current market price of $220.70 per share.
Tesla (TSLA) Spoiler
Revenue is predicted to increase over the previous year, while earnings are expected to decline slightly. On a side note, markets want to move on to better things after the disappointing robotaxi event.
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