Tesla (TSLA.US) will provide its first-quarter figures today after the closing bell, with the results coming just weeks after the electric car maker published record deliveries numbers during the first three months of 2021. Analysts are expecting strong growth in both adjusted earnings per share (EPS) and revenue, namely adjusted earnings per share of $0.86 vs 0.23 y/y and revenue of $10.42 billion vs. $5.99 billion Y/Y. Since the company's primary business is making electric cars, therefore investors will be mainly looking for delivery forecasts which is a key metric gauging demand for the automaker's vehicles as well as its ability to scale production. Further information regarding its facilities under construction Berlin and Texas, and potential increases in production capacity at the company's Shanghai Gigafactory and demand from China will also be in the spotlight. At the beginning of April the company reported a record number of 184,800 vehicle deliveries in the first quarter, most of which were cheaper Models 3 and Y even despite the ongoing semiconductor shortage. In the first quarter of 2021, growth in vehicle deliveries surged 109.0%, the most since the second quarter of 2019. For the current financial year, analysts expect that total annual deliveries will increase by 69.0% to 843,800 cars. That would be the fastest increase since 2018.
Tesla (TSLA.US) stock fell from an all time high at $902 just prior to the automaker reporting fourth quarter 2020 results in late January, and has failed to fully recover. Currently stock is testing the upper limit of the triangle formation. Should break higher occur, then upward move may be extended towards resistance at $782.17. On the other hand, if today's quarterly figures will turn out to be a disappointment, then another downward impulse towards support at $654.21 could be launched. Source: xStation5
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