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Both Tesla and Toyota are scheduled to report their Q2 earnings on August 4. Will these stocks soar or see speedbumps ahead of the earnings release?
In April, Tesla’s CEO, Elon Musk, had projected 60% growth in vehicle deliveries in 2022, translating into nearly 1.5 million units. However, the automaker delivered only 564,743 vehicles in the first half of the year. Despite supply chain bottlenecks and factory closures in China, analysts still expect Tesla to record as many as 1.4 million deliveries this year.
Analysts, on average, expect Tesla to report revenues of $17.23 billion, representing an 8% decline from its record high figure in Q1. The EV market leader is also expected to report its adjusted profits at $1.86 per share, down 42% from the first quarter.
In April, Toyota launched the all-electric BZ4X, marking its full-fledged entry into the EV space. Analysts, on average, expect the Japanese automaker to announced earnings of $3.77 per share, down 35% year-over-year. Revenues are projected to decline by 12% year-over-year to $63.6 billion.
How to trade these earnings reports?
Contracts for Difference (CFDs) offer trading opportunities in both rising and falling markets. While individual stocks may be volatile during the earnings season, trading indices like the S&P 500, Nasdaq 100 and Nikkei 225 offers relatively more stable exposure.
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Vantage is a global, multi-asset broker offering clients access to a nimble and powerful service for trading CFDs on Forex, Commodities, Indices, Shares.
With more than 10 years of market experience and headquartered in Sydney, Vantage now has over 1,000 staff across more than 30 global offices.
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