Tesla Earnings: 16% Dip Could Be Worth a Punt as Cashflows, Revenues Remain Solid
While high-flying tech stocks keep pushing the market to new all-time highs, Tesla (NASDAQ:TSLA) remains yet to see sunny days in 2024. The behemoth EV maker is down 15.8% in the year, underperforming the Nasdaq 100 and the S&P 500 by a hefty margin.
However, as eyes turn to the Austin, Texas-based giant's earnings release today after the market closes, investors are holding onto high hopes that the company's fortunes may be about to change.
The lowering expectations for today's numbers may just serve the company right to fuel a rebound from the all-important $200 dollar technical support.
To understand where the company stands from a fundamental perspective going into the report, we'll take a deep dive into the company's metrics using InvestingPro's powerful ProTips tool for a comprehensive analysis.
ProTips — available only to InvestingPro users — seemingly summarizes the positives and negatives of a company by combing through a sea of data. Designed for both retail investors and pro traders, ProTips avoids calculations (and reduces workload) by translating a company's data into synthetic observations.
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Tesla's earnings per share is expected to come in at $0.74 while quarterly revenue is expected to be $25.7B today.
Source: InvestingPro
Looking at the estimates on InvestingPro, there is a 45% decrease in EPS and a 12% decrease in revenue forecast. In the last 3 months, 10 analysts have revised their opinion downwards, while 7 analysts have raised their forecast for Tesla's EPS.
Source: InvestingPro
The longer-term trend shows that Tesla has continued to post results in line with EPS estimates, while quarterly revenues remained a mixed bag, coming in
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