Tesla Motors Inc (NASDAQ:TSLA) has officially announced the date of its next earnings report. The automaker will report earnings for its second quarter, which ended June 30, after closing bell on July 31. On the same day, Tesla plans to issue its second quarter shareholder letter on its website. Then management will hold a question and answer webcast at 5:30 p.m. Eastern to talk about the company’s guidance and financial performance. A recorded version of the webcast will be posted on the Tesla website about two hours later.
Wall Street expectations for Tesla
Currently Wall Street is expecting Tesla Motors to post earnings of 4 cents per share on revenue of $810.6 million. That’s compared to earnings of 20 cents per share and $405 million in revenue in the same quarter a year ago.
China continues to be a big part of the Tesla story. The automaker has said that the nation could be one of its biggest markets in just a few short years. Also it is already making plans to open more stores and expand its Supercharger network there, even receiving a boost from an enthusiastic Chinese businessman who opened up several public charging stations using crowd-funded money.
China’s role in Tesla’s second quarter
Analysts from more than one firm have noted that Tesla’s sales and deliveries in China will play a crucial role in how well it does overall. Earlier this month, Barclays analyst Brian White said the number of Model S sedans Tesla Motors delivered during the second quarter will determine whether the automaker meets and / or exceeds its delivery target of 7,500 deliveries during the quarter. Last month, he noted that the automaker needed a big jump in deliveries in June in order to meet its target.
Data from Weibo shows that Tesla Motors is indeed establishing a strong presence in China. Since the middle of February, the automaker’s following on the Chinese microblogging platform has increased by 71%, with it adding more than 24,000 followers in just a short time. Meanwhile concerns about growing pollution in China are fueling growth of electric cars there.