What To Expect In Tesla Q1 Earnings
April 29th after market close
- Revenue $6.16 billion
- EPS -$0.25
What to expect
Tesla share price tore higher last week, boosted by Wall Street upgrades, despite near term demand grinding to a halt. The market has kept faith in the long-term growth trend towards electric vehicles and Tesla is establishing itself as the clear leader. So, what will Q1 results show?
Expectations are for a solid set of Q1 figures despite the coronvirus outbreak. Vehicle deliveries are expected to have jumped 40% to 88,000 in Q1 compared to a year earlier. Revenue is expected to have increased by over 30% and losses per share are due show a substantial improvement from -$2.90 to $-0.25. These would be the best Q1 results Tesla has had.
So far, there has been no comment over the impact of COVID-19 since company shut down much of its production in late March. As with all firms this season, the Q2 outlook and the forecast hit from the coronavirus outbreak could be a key driver for the share price performance.
Attention will be particularly on how Model Y production and sales have been affected by factory closures and also how CEO Elon Musk believes the rest of the year will play out. The wide belief is that demand will rebound in H2.
Charts thoughts
After falling 66% from its February high of $968 Tesla struck a coronavirus inspired low of $350 on 18th March. Since then the stock has surged to a high of $773. Continued volatility has seen the stock drop 8% in the previous session and is currently trading around $685.
Immediate support can be seen at $673 (yesterday’s low and 20 sma) prior to $642 (100sma) and $550 (50 sma).
Resistance can bee seen at $753 (yesterday’s high) prior to $773 (high 17th April).
This strong pick up across last week means that the bar is set high for the results. Disappointment could see traders book profits. That said the longer-term trend remains bullish, so any pull backs could provide a good buying opportunity.
The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex, commodity futures, or digital assets, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to FOREX.com or GAIN Capital refer to StoneX Group Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.
Please note that foreign exchange and other leveraged trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.
Contracts for Difference (CFDs) are not available to US residents.
FOREX.com is a trading name of GAIN Capital - FOREX.com Canada Limited, 30 Independence Blvd, Suite 300 (3rd floor), Warren, NJ 07059, USA is a member of the Canadian Investment Regulatory Organization and Member of the Canadian Investor Protection Fund. GAIN Capital – FOREX.com Canada Limited is a wholly-owned subsidiary of Stonex Group Inc.
Complaints are taken very seriously at FOREX.com. You can view our complaints procedure here.
© FOREX.COM 2025