Tesla beat third-quarter estimates Wednesday and delivered nearly 140,000 vehicles in the third quarter. Shares of Tesla are up over 14% after the reporting earnings.
Watch the Tesla Earnings Call
You can watch the Tesla earnings call on their investor relations live stream page where they will have a live webcast and a replay.
You can submit questions to the Q&A section and read any of the questions asked.
Analyst Forecasts Preview
A survey of analysts by FactSet produced consensus estimates of net income of 37 cents a share, or an adjusted 56 cents, on revenue of $8.28 billion.
Tesla Daily's Rob Maurer is forecasting total revenue of $8.45 billion and GAAP earnings per share of $0.29, up 34% and 81% to last year, respectively. Other areas of focus are likely to include Tesla's automotive gross margin (excluding credits) and the impact of stock-based compensation.
How to Trade Tesla
Tesla's market cap has surged up to $463 billion at the highs in 2020. Shares of the tech giant are coming into the 50-day moving average. While the 10-week moving average is a bit lower near $402 vs. $411 for the 50-day.
Tesla kicked off the trading week in a higher gear on Monday after Wedbush Securities analyst Daniel Ives raised his price target on the stock to $500 a share.
Latest Tesla News
Wedbush Securities analyst Daniel Ives upgraded Tesla's stock price at $500 a share a year from now. “Tesla's improved manufacturing efficiency and shining Giga 3 success in China will be on full display later this week and lead to another strong bottom-line performance which should beat the Street in our opinion," Ives wrote.
On Monday the Palo Alto, Calif., company said that this month it plans to export China-made Model 3 sedans to more than 10 European countries, including Germany, France, Italy and Switzerland.
Tesla earlier this month said it delivered a record of 139,300 vehicles in the third quarter, topping analysts’ expectations of 136,000. More than 124,000 of those vehicle deliveries consisted of the Model 3 sedan and Model Y crossover.
On Oct. 15 Tesla CEO Elon Musk said prices for the company's flagship Model S sedan would be cut for the second time in a week.