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.