Tesla will release its third-quarter results on October 22 after the market closes. Investors are particularly focused on news regarding the robotaxis and the next generation of vehicles.
Tesla benefited in the past quarter from a strong surge in demand for electric vehicles, as customers rushed to take advantage of expiring tax incentives. Now, however, investors’ attention is turning to what comes next. With these tax incentives having expired, market conditions for Tesla could become more challenging – yet the company is not standing still. Tesla recently launched a range of more affordable models, although these are not as cheap as some on Wall Street had expected. Tesla’s management could provide further details on the outlook for these models and overall sales trends when it releases third-quarter results.
Analysts surveyed by Refinitiv expect revenue of USD 26.4 billion, representing a 17% increase compared to the previous quarter. The main reason for this is the rush of customers trying to take advantage of expiring U.S. electric vehicle tax credits. Analysts expect EPS to rise by around 38% from the previous quarter to USD 0.54. Net profit is expected to be about USD 1.8 billion, down from USD 2.2 billion in the same period last year.
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