Tesla earnings arrive Wednesday amid a rally for Tesla stock and Cybertruck's arrival.
Tesla Inc. is slated to report second-quarter earnings after the bell on Wednesday as investors cheer news that the first Cybertruck, the automaker’s electric pickup truck, rolled off the assembly line earlier this week and amid expectations of rising sales after the EV maker cut vehicle prices.
The... Tesla Inc. is slated to report second-quarter earnings after the bell on Wednesday as investors cheer news that the first Cybertruck, the automaker’s electric pickup truck, rolled off the assembly line earlier this week and amid expectations of rising sales after the EV maker cut vehicle prices.
The strategy of “aggressive” price cutting “struck a chord with consumers,” Wedbush analyst Dan Ives said in a recent note. Tesla endured “a near-term pain for long-term gain,” deepening its base and gaining new EV customers in a choppy macroeconomic background, he said.Earnings: Analysts polled by FactSet expect Tesla to report adjusted second-quarter earnings of 80 cents a share, which would compare with 76 cents a share in the second quarter of 2022.
Stock movement: Tesla shares have been on a tear this year, up 134% so far, including a 56% advance in the last three months. That compares with gains of about 18% for the S&P 500 index SPX in the year to date, including a 9% advance in the last three months.
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