Tesla Is Set to Report Earnings
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Investor's Business Daily on MSNDow Jones Futures: Tesla Earnings Fall, Elon Musk Sees Big Robotaxi Expansion; Trump Trade Deals Lift Stock MarketDow Jones futures fell slightly after hours, while S&P 500 futures and Nasdaq futures rose slightly. TeslaTSLA and Google-parent AlphabetGOOGL beat views. Google stock rose overnight while Tesla stock tumbled on the conference call,
Questions from investors and analysts during Tesla’s conference call for its second-quarter earnings covered a number of topics, ranging from self-driving cars to robots to new vehicle models. Nothing shocking came out of the call’s Q&A portion.
Musk said that half the US population could have access to a Tesla robotaxi by the end of 2025. That’s a huge leap from the company’s current limited rollout.
The Cantor Fitzgerald analyst discusses disappointing deliveries and soft energy revenue, lowering his estimates from $24.1 billion to about $21 billion. That’s a major reset in investor expectations just a couple of days before Tesla opens the books.
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The combination of in-line results and no real guidance update has turned Tesla's earnings into "very much a non-event," said Garrett Nelson, an analyst with CFRA. That means that the post-earnings call with analysts will be even more the focus,
Tesla's profit slid 16% in the second quarter, it said Wednesday. CEO Elon Musk will face investors in the company's earnings call at 4:30 p.m. CT.
Tesla has been promising more affordable models as the thing that will help pull it out of its current rut. But in an earnings call Wednesday, the company’s CEO came right out and confirmed rumors that it would just be a stripped down version of the Model Y,