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Elon Musk, CEO of SpaceX and Tesla and owner of Twitter, gestures as he attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, June 16, 2023.
Gonzalo Fuentes | Reuters
Tesla Second quarter earnings reports after the bell Wednesday.
Here’s what Wall Street can expect from electric car maker Elon Musk, according to analyst estimates compiled by Refinitiv:
- he won: $24.47 billion
- Earnings: 82 cents per share
During the first quarter of 2023, Tesla reported revenue of $23.33 billion and net income of $2.51 billion. During the second quarter of last year, Tesla posted a profit of $16.93 billion net income $2.27 billion.
Early this month, Tesla reported 466,140 total vehicle deliveries for the second quarter, and said it produced 479,700 electric vehicles. (Deliveries are the closest approximation of sales reported by Tesla.)
Since these deliveries have been higher than Wall Street expected, and were driven in part by incentives and discounts, investors will likely be looking for information about how Tesla’s price cuts will affect margins.
Retail shareholders are also hopeful that the company will provide more updates on Cybertruck on Wednesday Earnings callaccording to the questions previously submitted on a platform you manage Say techniques.
last week, Tesla She shared a photo on social media of what she said was the first e-truck ever built at its Austin, Texas, factory. However, the company has yet to reveal specs or pricing for the sci-fi-inspired corner truck that Musk originally launched and promoted in 2019.
Besides details of the Cybertruck, retail investors posting on Say wanted updates on Tesla’s production of the 4,680 battery cell, which is seen as necessary to ramp up production of the company’s Series 8 trucks and Cybertruck, on Tesla’s development of a humanoid robot (referred to as the Tesla Bot or Optimus ) And about a new factory, Tesla said it would build in Mexico.
Investors are also seeking updates on the company’s progress toward developing an autonomous vehicle or off-the-shelf robotax. While Musk touted Tesla’s self-driving ambitions in 2016, he said the company would conduct a hands-free flight across the US by the end of 2017. Tesla has yet to complete that task.
“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, who is also the CEO of SpaceX and the controlling shareholder and chief technology officer of social media company Twitter, recently started another new company, xAI, which he founded in Nevada. Musk said earlier this month that xAI plans to collaborate with both Tesla and Twitter, and that xAI will likely work with his EV business on the “silicon front” and on the “AI software front.”
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