Tesla Faces $27.9 Billion Revenue Test as Musk Floats SpaceX Merger
Updated
Updated · CNBC · Oct 21
Tesla Faces $27.9 Billion Revenue Test as Musk Floats SpaceX Merger
3 articles · Updated · CNBC · Oct 21
Summary
Tesla reports after Wednesday's close with Wall Street expecting 43 cents a share on $27.9 billion in revenue, a bar that implies a slight year-on-year sales decline if missed.
486,532 third-quarter deliveries came in about 2% below a year earlier, underscoring pressure from BYD and Xiaomi and the loss of a U.S. federal EV tax credit.
Musk's call now carries added weight after he said on SpaceX's earnings call that merging Tesla and SpaceX would be a "good idea" and that both boards formed special committees to study it.
Capital spending is expected to top $25 billion this year, up from about $8.5 billion in 2025, as Tesla pushes robotaxis, Optimus robots and a Texas chip factory shared with SpaceX and Intel.
Investors are also seeking updates on Full Self-Driving, which had nearly 1.5 million paid customers by June, and on the Cybercab as Tesla trails Waymo in the U.S. and Apollo Go in China.