SpaceX and Tesla CEO and Twitter owner Elon Musk gestures as he attends the Viva Technology conference dedicated to innovation and start-ups at the Porte de Versailles exhibition center in Paris, France, on June 16, 2023. .
Gonzalo Fuentes | Reuters
tesla Reports Second Quarter Earnings after the bell Wednesday.
Here’s what Wall Street expects from Elon Musk’s electric car maker, according to analyst estimates compiled by Refinitiv:
- income: $24.47 billion
- income: 82 cents per share
In the first quarter of 2023, Tesla reported revenue of $23.33 billion and net income of $2.51 billion.In the second quarter of last year, Tesla reported revenue of $16.93 billion net income $2.27 billion.
Earlier this month, Tesla reported total second-quarter vehicle deliveries of 466,140 vehicles and said it had produced 479,700 electric vehicles. Deliveries are the closest thing Tesla has reported to sales.
With those deliveries higher than Wall Street expected and driven in part by incentives and discounts, investors may be looking for information on how Tesla’s price cuts will affect margins.
Retail shareholders also hope the company will provide more updates on the Cybertruck on Wednesday. Earnings Conference Callaccording to questions submitted in advance on the platform Sai Technology.
In the past week, tesla A photo was shared on social media of what is claimed to be the first Cybertruck built at the Austin, Texas factory. However, the company has yet to disclose specs or pricing for the sci-fi-inspired horned pickup that Musk originally debuted and promoted in 2019.
In addition to the Cybertruck details, retail investors posting on Say Technologies also wanted updates on Tesla’s 4680 battery production, which is considered critical to ramping up production of the company’s Class 8 semi-truck and Cybertruck; about Tesla’s development of a humanoid robot, known as the Tesla Bot or Optimus; and Tesla saying it will build a new factory in Mexico.
Investors are also looking for an update on the company’s progress in developing self-driving or robotaxis. Although Musk touted Tesla’s self-driving ambitions in 2016, he said the company would take a hands-free tour of the US by the end of 2017. Tesla is not yet done with that mission.
“To keep the rally going, we think Tesla needs to prove it’s more than just a car company,” Morgan Stanley analyst Adam Jonas wrote in a note earlier this week.
Musk is also the CEO of SpaceX, the controlling shareholder and chief technology officer of social media company Twitter, and he recently started another new company, xAI, in Nevada. Musk said earlier this month that xAI plans to work with Tesla and Twitter, and that xAI may work with his electric vehicle business on the “chip frontier” and “artificial intelligence software frontier.”
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