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Chinese Market Will Boost Tesla’s Earnings Report
2021-10-19 • Updated
What will happen?
Tesla, Inc., the developer, manufacturer, seller of electric vehicles and energy generation and storage systems, will present an earnings report for the Q3 on October 20 after the stock market closes (23:59 GMT+3). The release will be followed by an investor conference call at 00:30 GMT+3, October 21.
What to expect?
Investors will be closely watching Tesla’s quarterly results on Wednesday for indications of its performance in China, where the electric carmaker has posted robust sales in the face of negative publicity and a host of new domestic competitors. According to Tesla’s report, sales in China grew by 44% from quarter to quarter.
The potential growth might be caused by the better-than-expected performance of the Shanghai factory, which uses domestic details including batteries.
Experts expect that Tesla will announce about revenue jump, which was driven by global deliveries in the July to September period. Despite this, some analysts believe that the worldwide supply chain issues could increase costs and decrease the company’s revenue.
Expectations
Analysts and experts forecast: Revenue = $13.57B, Earnings per share = $1.52
Technical analysis
Daily chart
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