Tesla’s Pre-Earnings Report Card
All eyes are on electric car maker extraordinaire Tesla Motors (NASDAQ:TSLA) ahead of the company’s second-quarter earnings release, which is expected to contain some impressive numbers. Expectations are high after Tesla began shipping the company’s flagship vehicle, the Model S, to China and the United Kingdom. By opening up two new markets to consumers for the company’s luxury electric vehicles, shipments and sales numbers — expected to release very soon — should skyrocket.
According to Bloomberg, estimates from numerous analysts project Tesla to announce deliveries of more than 7,500 Model S sedans. That number would represent a from a year ago, and outpace expectations. It’s also expected that earnings per share should be around 4.5 cents, which is actually a drop from last year’s second-quarter.
International Business Times also dug into Tesla’s expectations, and came away with a figure of $810.57 million in expected earnings. First-quarter earnings topped $713 million, and a boost of nearly $100 million between quarters would be quite an impressive feat. It also sheds some light in to just how important opening up foreign markets may be for Tesla.
Of course, there are several other factors playing into Tesla’s expected big quarter, including news that CEO Elon Musk was releasing the company’s patents, and effectively making Tesla an open source organization. This was met with mixed reviews from analysts, which considered it a gamble on Musk’s part. But with the pending gigabit factory, and a need to see other car makers invest in the charging network for electric vehicles, the move was considered brilliant by others.
It also didn’t hurt its image in the eyes of the public, who have grown fed up with ongoing patent battles in the tech industry, and a lack of innovation from automotive companies. Tesla was able to take a shot at both of those issues by releasing its patents.