Tesla production delays focus of quarterly results
Tesla (TSLA) will report third-quarter results after the market closes today, and the focus will be production delays. The electric carmaker only delivered 220 Model 3s during the quarter, a fraction of the number CEO Elon Musk had previously predicted. Tesla initially planned to produce 1,500 Model 3s in September and up to 5,000 a week by the end of the year. Musk tweeted about “production hell” and “bottlenecks” last month, so analysts will want to know if there are any updates to Tesla’s targets. The stock is down about 5.6% over the past month.
Facebook earnings out after the bell
Facebook (FB) is scheduled to reported third-quarter results after the bell today, and analysts are expecting earnings of $1.28 a share on revenue of $9.84 billion. The earnings results come as Facebook’s general counsel testifies on Capitol Hill for the second day in a row over Russia’s meddling in the 2016 US Presidential election. Analysts will want to hear from Facebook executives about how the company is addressing the issue and any plans to make its ad platform more transparent. During his testimony before lawmakers on Tuesday, Facebook vice president and general counsel Colin Stretch said the company plans to increase the number of employees focused on safety and security by 10,000 by the end of 2018. Facebook’s shares are up nearly 58% since the start of the year.
Qualcomm, Apple feud at center of chipmaker’s earnings
Qualcomm’s (QCOM) dispute with Apple (AAPL) over royalty payments on iPhones and iPads is expected to hit earnings for the second quarter in a row. Apple filed a lawsuit in January accusing Qualcomm of charging steep royalties for chips used in the tech giant’s devices. Qualcomm’s stock took a hit on Tuesday following reports that Apple is considering dropping Qualcomm as a chip partner, and instead using modem chips from Intel and MediaTek. Analysts are expecting the chipmaker to post an adjusted profit of 82 cents on revenue of $5.81 billion, according to Bloomberg. Qualcomm’s stock is down nearly 20% since January 1.
GoPro earnings: What to watch
GoPro (GPRO) will announce earnings this afternoon, and analysts will be focused on the company’s product offerings during the current holiday quarter. Forward guidance and 2018 sales outlook will be key following GoPro’s launch of its Hero6 at $499.99, on sale now, and its Fusion 360 camera, which begins shipping this month. Analysts are expecting a profit of 2 cents a share on revenue of $313.9 million, according to Bloomberg estimates. The stock’s up 30.2% over the past three months.