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The Electric vehicle leader Tesla (NASDAQ: TSLA) is scheduled to report third-quarter 2022 financial results on Wednesday, October 19 after the market close. During this Q3, $TSLA is expected to post quarterly earnings of $1.09 per share and revenues to be $22.2 billion.
In the first week of October, Tesla reported the sales numbers for the third quarter (Q3) of 2022. The carmaker produced 365,000 vehicles and delivered 343,830 vehicles for the quarter that ended in September. While these delivery numbers were not in line with Wall Street's expectation of 359,162 vehicles.
“Historically, our delivery volumes have skewed towards the end of each quarter due to regional batch building of cars. As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity at a reasonable cost during these peak logistics weeks.” Tesla said.
Tesla Q2 earnings review
The EV maker reported it's second-quarter financial results on July 20. Tesla registered second-quarter revenue of $16.93 billion, up 42% year-over-year and posted adjusted earnings per share of $2.27 in the second quarter, beating a Street estimate of $1.91. The company also said it converted 75 percent of its Bitcoin investment to flat currency during the quarter, conversions in Q2 added $936M of cash to our balance sheet.
$TSLA: Key technical levels to watch this week
Shares of Tesla have risen more than 10% this week, reflecting solid short-term bullishness ahead of the earnings announcement. TSLA's stock price is currently down over 25% from all-time highs. Technically, the overall momentum remains mixed. As of this writing, the stock trades above $220. On the downside, good support is expected at the $200 area while further down, demand is also expected around $180, which will act as the next area of support. On the upper side, If the bulls manage to push the price to break above the $250 resistance level, the next target will be at $265 and $280/300.
Read more - https://gulfbrokers.com/en/tesla-stock-price-forecast-ahead-of-q3-earnings
In the first week of October, Tesla reported the sales numbers for the third quarter (Q3) of 2022. The carmaker produced 365,000 vehicles and delivered 343,830 vehicles for the quarter that ended in September. While these delivery numbers were not in line with Wall Street's expectation of 359,162 vehicles.
“Historically, our delivery volumes have skewed towards the end of each quarter due to regional batch building of cars. As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity at a reasonable cost during these peak logistics weeks.” Tesla said.
Tesla Q2 earnings review
The EV maker reported it's second-quarter financial results on July 20. Tesla registered second-quarter revenue of $16.93 billion, up 42% year-over-year and posted adjusted earnings per share of $2.27 in the second quarter, beating a Street estimate of $1.91. The company also said it converted 75 percent of its Bitcoin investment to flat currency during the quarter, conversions in Q2 added $936M of cash to our balance sheet.
$TSLA: Key technical levels to watch this week
Shares of Tesla have risen more than 10% this week, reflecting solid short-term bullishness ahead of the earnings announcement. TSLA's stock price is currently down over 25% from all-time highs. Technically, the overall momentum remains mixed. As of this writing, the stock trades above $220. On the downside, good support is expected at the $200 area while further down, demand is also expected around $180, which will act as the next area of support. On the upper side, If the bulls manage to push the price to break above the $250 resistance level, the next target will be at $265 and $280/300.
Read more - https://gulfbrokers.com/en/tesla-stock-price-forecast-ahead-of-q3-earnings