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7mo ago

Tesla Faces Critical Q3 Earnings Amid Market Challenges

Investors await Tesla's third-quarter earnings report as the company navigates declining stock value and ambitious AI-driven goals.

Early designs suggest the robotaxi is likely to be a two-door sedan with “scissor doors” that swing upwards to open, with no steering wheel or pedal
The logo of a Tesla electric vehicle is placed on a car outside a dealership in Drogenbos, Belgium November 25, 2023. REUTERS/Yves Herman/File Photo
Tesla and SpaceX CEO Elon Musk jumps on stage as he arrives to speak at a town hall event hosted by America PAC in support of former US President and Republican presidential candidate Donald Trump at the Greater Philadelphia Expo Center in Oaks, Pennsylvania, on October 18, 2024.
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Overview

  • Tesla's stock has declined by 13% this month, partly due to a lackluster robotaxi event that left investors seeking more detail on future plans.
  • Analysts expect Tesla to report earnings of 58 cents per share, a 12.1% decrease from last year, with revenue projected to rise by 8.65% to $25.37 billion.
  • Tesla aims to achieve 1.8 million vehicle deliveries in 2024, requiring strong fourth-quarter sales despite earlier warnings of lower delivery targets.
  • Profit margins are under scrutiny as Tesla's aggressive pricing strategies and financing options impact earnings, with gross margins expected to fall to 17.3%.
  • Elon Musk's vision for AI and robotics, including autonomous vehicles, faces regulatory hurdles and investor skepticism over timelines and feasibility.