Tesla expected to report Q2 earnings with revenue growth and energy division deployment increase.

From CNBC: 2024-07-23 12:14:09

Tesla is set to report Q2 earnings, with analysts expecting 62 cents EPS and $24.77 billion in revenue. Despite a decline in vehicle deliveries, Tesla saw energy division deployment grow significantly. However, market share is slipping due in part to Musk’s controversial comments. Musk has plans to donate to a pro-Trump super PAC.

Republican interest in electric vehicles is low, while Democrat interest is high. Rival automakers saw a 33% increase in EV sales, while Tesla sales dropped 9.6%. Tesla bulls have high hopes beyond car production, including robotaxi and humanoid robot development. The stock closed 5% higher in anticipation of the earnings call.

Wall Street is divided on Tesla’s outlook, with only 22 out of 50 analysts holding buy ratings. Investors anticipate updates on robotaxi and humanoid robot progress on the earnings call. While Tesla’s financial health and other bets will be in focus, the company aims to showcase its potential beyond cars.



Read more at CNBC:: Tesla TSLA earnings Q2 2024