+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

LIVE: Tesla reports earnings

Aug 4, 2016, 01:24 IST

Reuters/Noah Berger

Tesla will report its second-quarter earnings after the market closes on Wednesday.

Advertisement

But investors will be focusing on a lot more than how Tesla's revenue and sales shaped up during the quarter.

The electric-car maker has had a newsy year.

To recap some of the big news, two executives responsible for building cars left the company as it prepared to launch its mass-produced Model 3.

In May, the company said 373,000 reservations had been made for the vehicle, and analysts will be looking out for any updates to this number.

Advertisement

In July, the company said it delivered 14,370 vehicles in the second quarter, short of its target of 17,000. It said an "extreme" production ramp and an unusually high number of vehicles still on their way to consumers caused the miss.

And on Monday, Tesla announced its $2.6 billion acquisition of SolarCity - another company that CEO Elon Musk owns a stake in. SolarCity has lost 20% of its value this year, and the deal raises concerns about why Tesla is adding another cash-burning company to its own, and the long-term earnings potential of a combined company.

Analysts are estimating an adjusted loss per share of $0.60 for the second quarter, and revenue of $1.63 billion, according to Bloomberg.

Tesla shares were little changed ahead of the earnings release. They've fallen 6% this year.

More to come ...

Advertisement

NOW WATCH: This $5 billion factory is the key to Tesla's future - and it's in the middle of the desert

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article