Gene Munster Says Tesla’s Numbers Are Going Down Next Year, But Believes That’s Okay: ‘Because It’s All About Autonomy’
Synopsis
According to data from Fiscal AI, analysts on average expect the company to report earnings per share of $0.53, below the $0.72 reported in the September quarter of 2024.
Tesla Inc. (TSLA) investors are keenly awaiting the company’s third-quarter earnings, scheduled to be released on Wednesday, with the company’s shares having rallied by about 30% over the past three months.
Deepwater Asset Management Managing Partner Gene Munster highlighted that the company had record deliveries in the third quarter. The company reported 497,099 deliveries in the three months through the end of September, marking its highest quarterly delivery numbers to date.
Munster, however, doesn’t expect the delivery growth to last. “Numbers are going down next year, but that’s ok because it’s all about autonomy,” he said.
According to data from Fiscal AI, Tesla is expected to report revenue of $25.91 billion for the third quarter, up from the $25.18 billion reported in the corresponding quarter of 2024. However, analysts on average expect the company to report earnings per share of $0.53, below the $0.72 reported in the September quarter of 2024.
TSLA shares rose 2% at the time of writing. On Stocktwits, retail chatter around TSLA jumped 38% over the past 24 hours.
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