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Tesla is set to release its Q3 earnings report after the closing bell today, shifting Wall Street’s focus from its autonomous taxi ambitions back to its primary automotive business.
Despite the hype around self-driving taxis, most of Tesla’s revenue and profits still come from car sales, prompting analysts to watch for signs of growth in this area.
What should traders and investors focus on?
- Recent price reductions’ effects on profit margins
- Developments in the Robotaxi project
- Information on regulatory approvals and advancements in full-self-driving technology
- Forecast for deliveries in Q4 2024 and the entire year of 2025
Expectations
Revenue: $25.54 billion
Earnings per share (EPS): $0.60
Historical data shows that Tesla’s stock tends to surge after positive earnings announcements. However, if earnings miss, this could cause the stock to take a hit.
One thing’s for sure. TSLA stock is highly volatile around earnings. While short-term gains are possible, so are significant drops. Traders and investors should carefully consider Tesla’s long-term outlook and be prepared for sharp moves during the earnings periods.
Technical analysis
Since the Robotaxi event, Tesla’s stock price has been struggling. It breached support which has now turned into resistance at $225.82.
A miss in Tesla’s earnings report could place its stock under more pressure.
However, if the earnings report beats estimates, could this be enough to see Telsa’s share price rebound?
