Telsa Inc. TSLA will release its third quarter (Q3) financial results after the market close on Wednesday, October 19.
Analysts expect the Austin, Texas-based automaker to report earnings per share (EPS) of $1.03 and revenue of $22.2 billion.
Some of the negative news has already been factored into the price based on the published third quarter shipping data the beginning of October.
Be sure to check out Tesla’s reviews page.
Analysts expected 358,000 deliveries for the third quarter, while Tesla announced 344,000.
Since the delivery figures were released, Tesla inventory has fallen by more than 20%.
In its most recent quarter, the company surpassed earnings per share by $0.12, followed by a 9.78% gain in its share price the next day.
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Here’s a look at Tesla’s past performance and the resulting price change:
Recently, automakers like Tesla have been struggling to meet consumer demand due to a global shortage of resources essential to the production of automobiles. Demand could now start to fall as the global economy slows and consumers worry about a potential recession.
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A backlog of cars in Tesla’s inventory could also indicate that the company has produced more vehicles than it was able to sell.
Now Tesla CEO Elon Musk is involved in a high-profile and controversial court battle Twitter Inc. TWTR since he first tried to buy the company In April.
Musk borrowed or sold billions of dollars worth of Tesla stock to fund the Twitter deal. This can affect the automaker’s stock price.
In late July and early August, Tesla stock rose but has since fallen sharply, more than giving up the late summer rally. The stock’s performance has fluctuated over the past year, but overall it’s fallen by a respectable margin. From October 18, shares …
