Tesla Motors Inc (NASDAQ:TSLA) is due to release its earnings report for the first three months of 2013 on Wednesday May 8 after the market closed. One of the biggest market success stories in a year with many to choose from, Tesla is looking to wow investors by recording its first ever quarterly profit in this earnings report.
Analysts following the company are looking for earnings of 3 cents per share by consensus for the first quarter. The company is expected to bring in revenue of $493 million for the first three months. In the first quarter of 2012, Tesla Motors Inc (NASDAQ:TSLA) managed to lose 76 cents per share on revenue of $30.2 million.
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The first quarter of 2013 really has seen an incredible turnaround in the company’s fortunes, and market perception of the Tesla Motors Inc (NASDAQ:TSLA) brand. In the fourth quarter of 2012, the company lost 65 cents per share and took in just $50 million in revenue. The turnaround to becoming a company able to stand on its own hind legs has been phenomenal, and investors have been eagerly following the success story.
Tesla Motors Inc (NASDAQ:TSLA) shares have increased by more than 70 percent since the start of 2013, and the company’s stock seems set to continue its prodigious rise, at least until its earnings come out. On today’s market, shares in the electric car manufacturer increased by more than 6 percent and stood at $58.08 per share at time of writing. On the first day of trading in 2013, the company’s shares went for a shade under $34.
Tesla Motors Inc (NASDAQ:TSLA) success is not guaranteed by any means, and the huge pressures being brought to bear on the company by the enormous valuation of its stock may come to hurt it in the future. The recording of the firm’s first quarterly profit is certainly a milestone for Tesla Motors Inc (NASDAQ:TSLA), but it does not mean easy going from here on out.
There is tremendous short interest in shares of Tesla Motors Inc (NASDAQ:TSLA) as there would be for any company that has risen so fast in such a short amount of time. The lack of profit at Telsa, and the politically heated business it is in make matters worse. The high amount of short interest makes it likely that trading will be fraught after the release of the earnings report on Wednesday.