NEW YORK: When Tesla reports results for the third quarter after the bell on Wednesday , it will be the next three months, and whether Chief Executive Elon Musk can achieve the company's ambitious year-end goal, that analysts will be interested in.
While several analysts believe that goal is attainable, others see a worsening macroeconomic environment ahead. Analysts on average expect Tesla to report net income of US$593 million in the third quarter on revenue of US$8.4 billion, according to Refinitiv data.Several analysts, including Frank Schwope at Nord/LB, believe the positive numbers are due to regulatory credits - payments Tesla receives from other carmakers to offset their emissions.
With recovery in the United States sluggish and Europe struggling with a second bout of the virus outbreak, Tesla analysts had pinned their hopes for growth on China, which has begun to recover as consumers shake off the pandemic's effects.
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