Tesla’s earnings are coming on Wednesday. Investors might not care about bottom-line results, but they will surely care about what CEO Elon Musk has to say.
For the second quarter, Wall Street is looking for earnings per share of about 54 cents from sales of $27.4 billion, according to FactSet. A year ago, Tesla reported earnings per share of 40 cents from sales of $22.5 billion.
Revenue and earnings are expected to be up with rising vehicle sales. Tesla sold about 480,000 vehicles in the second quarter, up 25% year over year. A few factors helped, including high oil prices, Tesla buyer incentives, and retrenchment from traditional auto makers, which are less focused on EVs after the expiration of the $7,500 federal EV purchase tax credit in September.