Tesla's Crucial Q1 Earnings Amid Stock Slump & FSD Advances

April 23, 2024
Tesla's Crucial Q1 Earnings Amid Stock Slump & FSD Advances
  • Tesla Inc. is scheduled to release Q1 earnings on April 23, with revenue estimated at $22.34 billion and EPS at 51 cents.

  • The company's stock has reached a 15-month low, falling 3.4% to $142.05, as Wall Street predicts a slight decline in revenue and an adjusted EPS of $0.50.

  • Tesla has reduced prices on models in China and Germany and cut its global workforce by 10%, moves CEO Elon Musk says align production with demand.

  • The electric vehicle market is growing, with EVs making up 14% of global new auto sales in 2022, but Tesla's stock has been on a downtrend, dropping 14% the previous week.

  • Analysts maintain a 'Hold' rating on Tesla stock and express concerns about market complacency and potential further declines.

  • The upcoming earnings call is critical for Tesla to address investor concerns and to clarify the company's growth strategy and future prospects.

  • Tesla is rolling out its Full Self-Driving software v12.3.5, which eliminates human-written code for a neural network approach, and has lowered the price of its FSD platform.

Summary based on 140 sources

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