Elon Musk's electric car company is due to release its third-quarter earnings results Wednesday after the market closes.LSEG data shows that Wall Street is expecting the reported revenue to be at $24.09 billion and earnings per share of 73 cents.The Q3 earnings announcement will be the firm's first since the prior Chief Financial Officer, Zachary Kirkhorn, declared his intention to step down.
Tesla is set to disclose their third-quarter results after the market closes on Wednesday. Analysts surveyed by LSEG are expecting 73 cents of earnings per share on a revenue of $24.1 billion. This is a notable rise from the previous year in which the electric car manufacturer reported an adjusted EPS of $1.05 on a revenue of $21.45 billion.
This earnings call will be Vaibhav Taneja's first as the CFO, following the departure of Zachary Kirkhorn. Earlier this month, Tesla reported a 7% decline in vehicle deliveries for the quarter in comparison to the same period the previous year. However, they are still aiming for 1.8 million vehicle deliveries for the full year of 2023.
Tesla has been running an online platform called Say Technologies, where shareholders can submit questions prior to earnings calls. Investors have requested answers on the delivery date of Tesla's Cybertruck, the availability of their Model 3 Highland in the US, their international factories, their 4680 battery cells, and their TeslaBot humanoid robot project.
In the third quarter, Tesla unveiled an update for their Model 3 sedan, the Highland, which included the addition of a 'stalkless' turn signal. Additionally, they reduced the prices of some of their EV models in and beyond the US, and for their FSD or FSD Beta driver assistance software. Although the company states that their cars are not self-driving, CEO Elon Musk announced that the car drove him around Austin with no intervention required.
Investors have been inquiring about the company's latest FSD software improvements and the reason behind the decrease in price for FSD if it is seeing improvements.
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