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Tesla's Second Quarter Revenue Report will be Released

Tesla's second quarter revenue report will be released. Analysts expect earnings to reach 0.936 per share. Here are the details..

Yazar: Eylem Özer

Yayınlanma: 26 Temmuz 2021 21:37

Güncellenme: 6 Kasım 2024 06:59

Tesla's Second Quarter Revenue Report will be Released

Tesla's second quarter revenue report will be released. Analysts expect earnings to reach 0.936 per share. Here are the details..

US electric vehicle manufacturer Tesla will announce its 2021 second quarter earnings report after the markets close today. [caption id="" align="alignnone" width="810"]TSLA Haftalık Grafik TTM Kaynak: Investing.com[/caption] Analysts are expecting a revenue of $11.53 billion from Tesla, while forecasting a profit of $0.936 per share. Despite its ups and downs over the past year, Tesla (NASDAQ:TSLA) has been an excellent growth story for loyal investors. Shares of the Palo Alto, California-based electric vehicle maker gained more than 11x between March 2020 and January 2021. After this rise, there has been uncertainty for Tesla stock and its investors, amid growing competition from traditional automakers, signs of a potential slowdown in sales in China, and continued chip shortages. After hitting a record high of $900.40 on January 4, Tesla stock tumbled 28%, outperforming the overall market that has continued to rise during this period. The stock closed Friday at $643.38. When Tesla releases its latest quarterly results today, the company's founder and CEO, Elon Musk, will likely be asked questions about whether the company's best days in terms of growth are over.

Competition Has Increased

Analysts note that lately, Tesla's long-term potential has gradually lost its appeal. The company is trying to cope with the threats posed by automotive giants such as General Motors (NYSE:GM), Ford (NYSE:F) and Volkswagen (OTC:VWAGY), which have started to produce their own electric vehicles. In China, Tesla's advantage over local manufacturers has already begun to wane. In a survey made by Investing.com which involved 35 analysts, respondents presented a neutral outlook for the stock, with the majority predicting a 7% bullish target for the next 12 months.
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