Tesla is preparing to announce its quarterly results on Thursday AEST, after the market closes in New York. Gene Munster from Deepwater Management has outlined five key areas of interest for the upcoming report: developments in robotaxis, progress on an affordable EV model, the conclusion of US tax credits, automotive gross margins, and the timeline for hardware updates. Munster remains optimistic about Tesla’s prospects, citing the company’s leading position in physical AI.
eToro’s market analyst Josh Gilbert suggests that expectations for Tesla are currently subdued. The best-case scenario involves cost-cutting measures and advancements in AI and autonomous driving offering some positive momentum. However, Gilbert acknowledges that vehicle sales are facing challenges, with global deliveries declining by 13.5 per cent year-on-year in the second quarter, totaling 384,122 units, which fell short of analyst predictions. He also noted that Cybertruck sales have declined.
Despite these challenges, Gilbert points out that Tesla maintains its position as a market leader and continues to make strides in autonomous driving technology, although he believes significant revenue contributions from this area are still some time away. Tesla designs, develops, manufactures, leases, and sells electric vehicles, and also generates revenue from energy generation and storage systems. The consensus among analysts is an expected earnings per share of US44¢ on revenues of $US22.8 billion ($34.8 billion).
