Tesla will report earnings after the close
- EPS is expected at $0.73 per share vs $1.19 in the same quarter last year.
- Revenues are expected at $25.62 billion revenue vs. $24.32 billion in the same quarter last year.
- Full-year earnings are projected to decline by 22% to $3.15 per share, while revenue is expected to increase by 19.6% to $97.41 billion.
- Analysts expect Tesla to sell about 2.2 million vehicles in 2024, a 22% growth from 1.8 million in 2023.
- Tesla's overall strategy focuses on growth, with a projected full-year revenue of $97 billion, representing a compound annual growth rate of over 50%.
- Tesla's Q4 deliveries exceeded expectations, with 484,507 vehicles delivered in Q4 and a total of 1.81 million in 2023, surpassing the 1.8 million target.
Tesla (TSLA) stock has seen a significant decrease since the start of the year, falling almost 20% in the past thirty days and around 30% in six months. Since the last earnings, the price is down -12.69%. Last quarter the company reported earnings of $0.66 vs estimates of $0.73 on revenues of $23.35B vs estimates of $24.188B.
Technically, the price is below the 100 day MA at $239.74 and the 200 day MA at $232.00. The price is above the 50% midpoint of the move up from the early 2023 low to the July 2023 high. That level comes in at $200.55. The all-time high price for Tesla reach $414.50 back on November 4, 2021.
IBM and servicenow will also report earnings after the close today.
IBM is expected to have EPS of $3.79 (was $3.60 same quarter last year) on revenues of $17.28B (was 16.69B last year).
Servicenow is expect to have EPS of $2.78 (was $2.28 same quarter last year) on revenues of $2.402B (was $1.94B last year).
