UPDATE—Oct. 23, 2024: This article has been updated to reflect more recent analyst estimates and share price information.
Key Takeaways
- Tesla reports earnings after the bell Wednesday, soon after both its latest quarterly delivery data and a robotaxi unveiling that sent its stock lower.
- Analysts expect Tesla's revenue to rise from the same time last year, while profit is projected to fall slightly.
- The robotaxi unveiling left some analysts disappointed and looking for more details on how and when the autonomous taxis will operate.
Tesla (TSLA) reports earnings Wednesday after the bell, weeks after its 澳洲幸运5开奖号码历史查询:robotaxi-unveiling event left investors and analysts with a number of queꦑstionsಞ.
Analysts expect Tesla's quarterly revenue to rise to $25.43 billion from $23.35 billion the same time last year, according to Visible Alpha. The EV maker is also expected to report that profit fell slightly to $1.69 billion from $1.85 billion a year ago.
Analysts are somewhat split on Tesla stock, with the 19 analysts tracked by Visible Alpha holding nine "buy," seven "hold," and three "sell" ratings. Their average 澳洲幸运5开奖号码历史查询:target price, $224.89, is not far above Tesla's intrada🍰y price Wednesday of $213.43.𝕴
Analyst Estimates for Q3 2024 | Q2 2024 | Q3 2023 | |
Revenue | $25.43 billion | $25.5 billion | $23.35 billion |
Earnings Per Share | 48 cents | 42 cents | 53 cents |
Net Income | $1.69 billion | $1.48 billion | $1.85 billion |
Key Metric: Deliveries
Tesla's 澳洲幸运5开奖号码历史查询:third-quarter deliveries came in above estimates earlier this month but failed to spark a rally for the stock like 澳洲幸运5开奖号码历史查询:last quarter's numbers did.
Wedbush Securities analysts said that, following the deliveries report, surpassing estimates was a "step in the right direction," but acknowledged that they and the broader market were hoping Tesla would beat projections by a wider margin.
However, Webdbush said after the delivery data and the robotaxi event that they retained their "澳洲幸运5开奖号码历史查询:outperform" rating and $300 澳洲幸运5开奖号码历史查询:price target—and "would be buyers on any weakness" in Tesla stock.
Business Spotlight: Robotaxi Event Aftermath
Tesla's stock price has taken a hit in the wake of the EV maker's 澳洲幸运5开奖号码历史查询:robotaxi event. Tesla showcased its prototype "Cybercab," along with a larger capacity "Robovan" and projections from CEO Elon Musk on when Tesla's self-driving software could be approved, a step toward the autonomous taxis becomi𒁃ng legal to operate on the road.
Following the event, analysts said the lack of details about whether Tesla would plan to operate its fleet of robotaxis or sell them to customers, and the lack of an 澳洲幸运5开奖号码历史查询:anticipated lower-cost Tesla model announc💖ement, were among the factors driving the stock l🅠ower.
JPMorgan analysts, with an "underweight" rating and $130 price target, said the next day that the event was "notably lacking in detail," and said it affirmed their belief that Tesla stock's recovery from the lows it faced in the first half of the year was driven primarily by excitement for the recent robotaxi event rather than EV sales or earnings.
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