Tesla’s Q3 Earnings Preview: Cybercab and Market Expectations
As Tesla (TSLA) gears up to announce its quarterly earnings this coming Wednesday, the electric vehicle (EV) behemoth faces a mix of anticipation and skepticism following its recent “We, Robot” event. The spotlight is on the company’s financial health and its bold move into the autonomous vehicle market with the introduction of the Cybercab.
Analysts are projecting an adjusted earnings per share of $0.60, with revenue expectations set at $25.42 billion, according to a Bloomberg poll. This forecast comes on the heels of Tesla’s global delivery numbers showing improvement for the first time this year, potentially signaling a positive shift in automotive gross margins. This could be a silver lining for Tesla, helping to bolster its profit figures for the quarter.
However, not all reactions have been optimistic. The Cybercab, Tesla’s latest venture into driverless technology, unveiled at the event, has sparked considerable debate among investors and analysts. Priced at $30,000, the Cybercab aims to redefine urban mobility with its fully autonomous capabilities, lacking traditional controls like steering wheels or pedals. Yet, the reception was lukewarm at best. Jefferies analysts notably criticized the unveiling, questioning the feasibility of Tesla’s ambitious targets and labeling the Cybercab somewhat derisively.
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