Monday, December 23, 2024

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Tesla’s Rough Patch: Profit and Revenue Expected to Fall

EconomyTesla's Rough Patch: Profit and Revenue Expected to Fall
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Ahead of Tesla’s earnings announcement on the 23rd (local time), Bloomberg reported that Tesla’s operating profit is expected to plummet by 40%. Sales are predicted to decline for the first time in four years.

Bloomberg relayed this information on the 22nd, citing company insiders.

Wall Street predicted that Tesla made a net profit of 51 cents per share on $22.34 billion in sales last quarter. The company recorded a net profit of 85 cents per share on $23.33 billion in sales during the previous year.

This suggests a year-on-year decrease in sales, which would be the first in four years.

Bloomberg also predicted that Tesla’s operating profit from the last quarter would drop by about 40% compared to the previous year.

Tesla will announce its earnings for the last quarter immediately after the market closes on the 23rd. Recently, a series of bad news reports about Tesla have been released all at once, so this earnings announcement is attracting more attention than ever from the market.

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