Tesla is expected to release its second-quarter earnings report after the market closes on Wednesday, days after it delivered its first batch of highly anticipated Model 3 sedans.
Here is what analysts expect:
- Adjusted loss per share: $1.82 expected, according to a Thomson Reuters survey
- Revenue: $2.51 billion, expected, analysts told Thomson Reuters
Analysts expect Tesla to report a second-quarter loss of $1.82 per share on $2.51 billion in revenue, according to estimates from Thomson Reuters.
In early July, the company reported deliveries of just over 22,000 vehicles for the quarter, down from the 25,000 delivered in the previous quarter. The company later said 3,500 vehicles were in transit and would be counted in the third quarter.
Reservations for the recently rolled out Model 3 sedan, which starts at $35,000, have grown to more than 500,000, up from the 373,000 the company reported in the spring of 2016, and more than the total sales of any entry level luxury car.
Yet, analysts still have concerns over whether Tesla can ramp up production quick enough. There also are worries over whether the Model 3 will eat into sales of its higher-end cars, and if Tesla will be able to fend off eventual competition from experienced competitors.
Some analysts have noted that demand for Tesla’s S and X models is slackening, citing inventory numbers that suggest a possible pause in demand for Tesla’s higher-end cars ahead of the Model 3 rollout. If this trend holds, it could be an indication that the Model 3 will hurt sales of Tesla’s pricier models.
Here’s what to expect from Tesla’s earnings
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