Electric vehicle giant Tesla Inc. (NASDAQ:TSLA) is expected to provide an update on demand and the performance of its robotaxi tests when the company reports its second-quarter financial results after the market close on Wednesday.
Here are the earnings estimates, what analysts are saying and key items to watch.
Earnings Estimates: Analysts expect Tesla to report second-quarter revenue of $22.79 billion, down from $25.50 billion in last year’s second quarter, according to data from Benzinga Pro.
The company has missed analyst estimates for revenue in three straight quarters and missed estimates in six of the last seven quarters overall.
Analysts expect Tesla to report second-quarter earnings per share of 42 cents per share, down from 52 cents per share in last year’s second quarter. The company has missed analyst estimates for earnings per share in two straight quarters and missed estimates in six of the last seven quarters overall.
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What Analysts Are Saying: Tesla analysts are mixed ahead of the second-quarter report, with several Neutral ratings and downgrades expected in July.
One analyst who remains bullish on Tesla is Wedbush analyst Dan Ives, a frequent Tesla bull. Ives maintained an Outperform rating and $500 price target on Tesla ahead of the earnings report.
Ives said the Street will focus on demand stabilization and robotaxi expansion. The analyst also highlighted the differences between Tesla’s performance in July and April.
“On the April earnings call the big focus was Musk officially leaving the Trump Administration and pressure to refocus on being CEO on Tesla…now investors are seeing more of a ‘wartime CEO’ as Elon is laser focused on the Robotaxi expansion in Austin,” Ives said.
Ives said more cities are coming for the Robotaxi expansion, calling it a “key autonomous initiative for the company.”
“Front and center for investors are the AI initiatives happening under the hood of Tesla with the Street listening carefully for any more direction around a Tesla investment into xAI which will require a shareholder vote later this year.”
Ives said Tesla is a clear future leader in artificial intelligence and robotics and that could be highlighted during the financial results and conference call.
“We believe the autonomous valuation is worth $1 trillion alone to the Tesla story over the next few years.”
The analyst said Tesla had weakness in China in prior quarters, but the region could be rebounding based on June sales, which were up year-over-year for the first time in eight months.
“If Musk continues to lead and remain in the driver’s seat at this pace, we believe Tesla is on a path to an accelerated growth path over the coming years.”
Ives said Tesla is at a “positive crossroads” in its story with Musk focused as the CEO, robotaxi expansion beginning, demand stabilization coming and the company ready to embark on aggressive AI growth.
Bank of America analysts maintained a Neutral rating on Tesla ahead of the report, while raising the price target from $305 to $341.
The analysts raised the price target due to optimism for robotaxis and the promise to have unsupervised FSD in place by the end of 2025. Bank of America remained cautious about the pressures on the EV industry overall due to the elimination of federal tax credits.
“Tesla is the most challenged among the three OEMs given disappointing deliveries, IRA incentives phasing out, and tariffs,” the analysts said.
Here are other recent analyst ratings on Tesla and their price targets:
- Goldman Sachs: Maintained Neutral rating, lowered price target from $315 to $285
- Mizuho: Maintained Outperform rating, lowered price target from $390 to $375
- Guggenheim: Reiterated Sell rating with $175 price target
- William Blair: Downgraded from Outperform to Market Perform rating with no price target
Key Items to Watch: Investors and analysts will be watching many items in Tesla’s financial results and conference call including robotaxis, tariffs, Tesla Diner, Cybertruck demand, EV tax credits, Trump administration impact, China, Europe and a vote on xAI ownership.
Tesla already reported second-quarter deliveries of 384,122, which were down from 443,956 in last year’s second quarter. Production of 410,244 units in the quarter was down slightly from 410,831 in last year’s second quarter.
Among the items closely watched in demand is the Cybertruck. While Tesla doesn’t break out the newer vehicle individually, reports suggest that the Cybertruck has fallen behind the F-150 Lightning and Hummer EV for third place among electric pickup trucks.
Original production plans called for capacity to make 250,000 Cybertrucks annually, but the vehicle is selling less than 50,000 per year. Tesla could comment on the future of the vehicle.
Tesla probably won’t comment on or take action regarding its Bitcoin (CRYPTO). Still, it could become a future catalyst with the elimination of corporate tax credits for EV companies acquired by other automakers.
Tesla CEO Elon Musk will likely be asked multiple questions about the current White House administration and President Donald Trump. After a close friendship, the two had a falling out that could spill over to Tesla.
Trump threatened to look into the subsidies that Musk-related companies receive. Trump has also nominated a head of NHTSA who is opposed to autonomous vehicles, a potential roadblock to Tesla’s robotaxi growth.
After not giving much color on full-year guidance after first-quarter results, investors and analysts will want to hear more. Tesla said its 2025 guidance would be revisited in the second-quarter update, which will be released on Wednesday.
Timelines from the company will be closely watched with the first-quarter update, which is expected to confirm that the company remains on track to start production of more affordable models in the first half of 2025 and for the Cybercab to begin volume production in 2026.
TSLA Price Action: Tesla stock was up 1.1% to $332.11 on Tuesday versus a 52-week trading range of $182.00 to $488.54. Tesla stock is down 12.4% year-to-date in 2025.
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