Tesla Stock Gains Ahead of Earnings
Shares of Tesla advanced in afternoon trading, as investors awaited quarterly financial results that are due after the close.
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@Tesla stock was recently up about 0.7%.
The shares have gained 45% over the past 12 months through Tuesday’s close, despite a pullback in January.#tesla #ev #stocks pic.twitter.com/bj3lJnkS30— The_Journalbiz (@the_journalbiz) January 24, 2024
Factset chart
Investors are focused on global demand for electric vehicles, as well as the profitability of Tesla’s automobiles. While Tesla remained the world’s leading EV seller in 2023, China’s BYD in the fourth quarter took the top spot for the first time. Meanwhile, some early-stage EV companies are struggling.
Tesla’s stock was recently up about 0.7%. The shares have gained 45% over the past 12 months through Tuesday’s close, despite a pullback in January.
Here are some of Wall Street’s high-level expectations, based on FactSet data:
- Sales of $25.6 billion
- Earnings of 56 cents a share, when reported according to generally accepted accounting principles
- Non-GAAP earnings of 73 cents a share
The company late last year began deliveries of its Cybertruck, a much-anticipated pickup. Tesla Chief Executive Elon Musk, meanwhile, recently revealed a demand for a new, bigger, compensation package.
