NEW YORK (TheStreet) -- Tesla Motors (TSLA - Get Report) is set to report its earnings for the first quarter of fiscal 2014 at the end of trading today. Wall Street is expecting the world's most successful electric car company to report a 5 cent per share drop compared to a year ago, alongside a 23% gain in revenue.
Tesla shares began to soar in late February after the company's last earnings report beat expectations and the company officially announced plans to build a massive lithium-ion battery factory to address battery supply. Battery manufacturing had been a key hangup in Tesla's production of new cars.
However, Tesla shares have been caught up in the broad selloff of growth and momentum stocks which began back in March.
Tesla shares have fallen dramatically from a high of $265 to just under $200, as the stocks of tech companies with high price-to-earnings ratios have been getting slammed. Despite the headache for shareholders, investors are still optimistic about today's earnings numbers.
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The information below is derived from data submitted to the Estimize.com platform by a set of buy-side and independent analyst contributors.
The current Wall Street consensus according to Zacks Investment Research is for earnings of 7 cents per share and $693.43 million in revenue. Compare that to the Estimize.com consensus from 100 hedge analysts, asset management firms, and independet analysts. They call for 22 cents in earnings per share and a revenue estimate of $721.11 million.