Wall Street expects electric car maker Tesla to make profits in the third quarter of this year, meaning the company will make profits for the fifth consecutive quarter. Tesla is expected to release its third quarter of 2020 earnings after the close of October 21 local time, and wall street seems to be quite optimistic about the company's performance in the quarter.
The 37 analysts surveyed by FactSet expect Tesla's earnings per share to be $0.55 billion and revenue to be $8.38 billion in the third quarter of 2020.
Estimize forecast the company's third-quarter adjusted earnings per share of $0.65.
Credit Suisse analyst Dan Levy (Dan Levy) expects Tesla to earn $0.73 a share in the third quarter.
Furthermore, Goldman Sachs analyst Mark Delaney (Mark Delaney) also expects Tesla to report quarterly earnings. He expects Tesla to earn $0.6 a share in the third quarter of 2020.
It is reported that from the third quarter of last year to the second quarter of this year, Tesla has made profits every quarter, which is the first time in 17 years since the company was established to achieve profits in four consecutive quarters.
Today, Wall Street analysts expect the company to also make a profit in the third quarter of this year, which means the company will be profitable for the fifth consecutive quarter.
Earlier, Tesla announced record third quarter deliveries in early October. The company said it delivered 139300 electric vehicles in the third quarter of this year, surpassing analysts' expectation of 136000, up more than 53% from 906500 in the second quarter of this year and 43% higher than 97000 in the same period last year.
Specifically, in the third quarter, the company delivered 124100 model 3 and model y vehicles, and 15200 model s and model x vehicles.
In terms of production, the company said it produced 14503600 cars in the third quarter, up about 76% from the second quarter and also a new record. Among them, the production of model s / X and model 3 / y is 16.992 million and 128.044 million respectively.
Previously, foreign media said that Tesla's third quarter delivery and production reached a new high, which is expected to drive the company's revenue to a new high and the company's net profit is expected to continue to increase.