Elon Musk, CEO of SpaceX and Tesla and owner of Twitter, gestures through the Viva Technology Conference on Innovation and Startups on the Porte de Versailles exhibition center in Paris, France, June 16, 2023.
Gonzalo Fuentes | Reuters
Tesla reports results for the second quarter after the bell Wednesday.
Here’s what Wall Street expects from electric vehicle maker Elon Musk, in keeping with analyst estimates compiled by Refinitiv:
- Income: $24.47 billion
- Profits: 82 cents per share
In the primary quarter of 2023, Tesla reported revenue of $23.33 billion on a net income of $2.51 billion. Within the second quarter of last 12 months, Tesla reported $16.93 billion in revenue net income in the quantity of $2.27 billion.
Earlier this month, Tesla reported 466,140 vehicle deliveries within the second quarter and said it produced 479,700 electric vehicles. Deliveries are the closest approximation to Tesla’s reported sales.
As these deliveries were higher than expected on Wall Street and were driven partly by incentives and rebates, investors are prone to be in search of information on how Tesla’s price cuts have affected margins.
Retail shareholders are also hoping the corporate will offer more updates on the Cybertruck on Wednesday call for earningsin accordance with the questions previously submitted on the platform hosted by Say technologies.
last week Tesla shared on social media a photograph of the primary Cybertruck ever built at a factory in Austin, Texas. Nevertheless, the corporate has yet to disclose the specs or pricing of the sci-fi-inspired angular Musk transducer that originally debuted and was promoted in 2019.
Along with details on the Cybertruck, retail investors posting in Say Technologies want an update to Tesla’s 4680 battery cell production, which is seen as crucial to increasing production of the corporate’s Class 8 semi-truck and Cybertruck; about Tesla developing a humanoid robot called Tesla Bot or Optimus; and in regards to the recent Tesla factory he said he would construct in Mexico.
Investors also expect updates on the corporate’s progress in developing an autonomous or robotaxi-ready vehicle. While Musk touted Tesla’s ambitions for autonomous driving in 2016, he said the corporate would conduct a hands-free trip across the USA by the top of 2017. Tesla has yet to finish that mission.
Morgan Stanley analyst Adam Jonas wrote in a note earlier this week: “For the rally to proceed, we imagine Tesla must prove that it’s greater than just an auto company.”
Musk, who can also be the CEO of SpaceX and the controlling shareholder and chief technology officer of social media company Twitter, recently launched one other recent company, xAI, which he founded in Nevada. Musk said earlier this month that xAI plans to partner with each Tesla and Twitter, and that xAI will likely partner along with his EV business on the “silicon front” and “AI software front.”