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What to expect from Tesla’s earnings report

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Tesla is set to release its fourth-quarter earnings report, and investors are bracing for potential volatility in the company’s share price.

As we approach the earnings announcement, let’s delve into what to expect from Tesla’s upcoming financial results and explore some trading strategies to navigate this announcement.

When Will Tesla Report Q4 Results?

Tesla is scheduled to unveil its fourth-quarter results on Thursday, January 25th, at 8 am (AEDT), after the close of the market.

There’s no doubt it will have a significant impact on Tesla’s stock performance.

FILE PHOTO: Tesla’s Cybertruck is displayed at Manhattan’s Meatpacking District in New York City, U.S., May 8, 2021. REUTERS/Jeenah Moon

Analysing Tesla’s Q3 Performance

Tesla’s previous quarter, Q3, was marked by disappointment as the company missed both earnings and revenue expectations.

Additionally, concerns were raised about the potential of the Cybertruck to generate substantial short-term positive cash flow.

These factors contributed to a challenging quarter for the electric vehicle manufacturer.

Tesla forced to change range estimates

Breaking Down Tesla’s Q4 Production and Deliveries

Despite the challenges faced in the previous quarter, Tesla achieved record-breaking numbers in Q4 2023.

The company reported over 484,000 deliveries and nearly 495,000 vehicles produced. In total, Tesla produced 1.846 million vehicles and delivered just under 1.81 million units.

While these figures exceeded the 2022 totals of 1.37 million and were in line with the October guidance of 1.8 million, they fell short of Tesla’s earlier 2023 goal of two million vehicles.

Breaking down the numbers further, approximately 477,000 Model 3/Y vehicles were produced, with over 461,000 delivered. The “Other Models” category accounted for 18,200 vehicles (3.8% of the total) produced and 23,000 delivered.

Tesla’s Eventful Quarter

The fourth quarter of 2023 saw Chinese electric vehicle manufacturer BYD surpass Tesla as the world’s largest producer of electric vehicles, primarily due to its lower-priced models.

However, Elon Musk argued that Tesla should not be directly compared to traditional car manufacturers, stating that Tesla is “an AI/robotics company that appears to many to be a car company.”

As Tesla prepares to unveil its Q4 results, investors and traders will closely monitor the company’s financial performance and the impact of various factors on its share price.

With the potential for market volatility, devising well-thought-out trading strategies will be essential to navigate this critical event in Tesla’s journey.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Money

Bitcoin surges closer to all-time high

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Bitcoin surged to new heights on Monday, inching ever closer to its all-time high as the cryptocurrency market continued its bullish momentum following a weekend pause.

The flagship cryptocurrency recorded a remarkable 7.65% increase, reaching a price of $67,608.30, according to data from Coin Metrics.

Earlier in the day, it peaked at $67,977.77, marking its highest level since November 2021 when it achieved its previous all-time high. Ether, the second-largest cryptocurrency, also experienced gains, rising by 3.41% and trading near January 2022 highs at $3,588.83.

Both bitcoin and ether are riding the wave of their best week in almost a year, with bitcoin witnessing a 21% surge and ether climbing by 16%.

However, the weekend saw a temporary halt in their ascent as the market absorbed two days of significant outflows from the Grayscale Bitcoin Trust (GBTC), which were offset by inflows into other newly launched bitcoin exchange-traded funds (ETFs).

Market dynamics

Antoni Trenchev, co-founder of crypto exchange Nexo, noted the influence of these new ETFs on market dynamics, suggesting that major movements are now occurring during regular trading days rather than weekends. He emphasized the potential for explosive price action amidst strong demand from these new spot ETFs.

Although bitcoin currently stands around 3% below its intraday record of $68,982.20, it continues to uplift other crypto tokens, particularly meme coins like Dogecoin and Shiba Inu coin, which surged by 14% and 45% respectively.

Analysts interpret this as a sign of renewed interest from retail investors in the crypto market, as meme tokens’ weekly trade volume recently reached its highest level since late 2021.

Meanwhile, the rally in crypto equities varied, with Coinbase and Microstrategy experiencing gains of 11% and 24% respectively, while miners witnessed a downturn.

Companies such as CleanSpark, Cipher Mining, Iris Energy, Marathon Digital, and Riot Platforms faced declines ranging from 5% to 7% as concerns over the upcoming halving event in April weighed on investor sentiment.

Although some analysts foresee potential short-term corrections due to extreme profit margins, long-term investors remain optimistic.

They anticipate sustained upward momentum driven by increasing demand through new U.S. ETFs and tightening supply post-April halving.

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Taxing times: 64% of Aussies think they pay too much tax

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As the cost of living continues to rise, a staggering 64% of Australians are voicing their concern over the amount of tax they pay annually, according to recent research conducted by Finder, Australia’s leading comparison site.

The survey, which polled 1,004 respondents, found that nearly two-thirds of Australians, equating to approximately 13 million individuals, feel burdened by the tax they contribute each financial year.

Of particular note is the sentiment among millennials, with a striking 80% expressing dissatisfaction with their tax contributions. Following closely behind are Gen Xers, with 72% sharing similar sentiments. Comparatively, Gen Z (63%) and baby boomers (39%) exhibit less discontent with their tax obligations.

Sarah Megginson, a personal finance expert at Finder, highlighted the strain that the cost of living imposes on individuals’ financial situations.

“Budgets are stretched thin, with many struggling to make ends meet,” she noted. “While inflation is trending downwards, the financial burden remains heavy for a significant portion of Australians.”

Tax hope

However, there is a glimmer of hope on the horizon.

The Australian government has announced plans to implement tax cuts commencing July 1, aimed at providing relief to taxpayers grappling with the escalating cost of living.

According to Finder’s analysis, Australians earning between $45,000 and $135,000 annually stand to benefit from a further tax cut of $804, in addition to previously announced reductions.

This translates to a substantial increase in disposable income, potentially alleviating financial strain for many households.

For instance, an individual earning the median Australian income of $83,200 could expect a tax cut of $1,759 over 12 months, nearly double the previous $955 reduction.

Meanwhile, those earning over $200,000 annually will receive approximately $4,529 under the new stage 3 tax cuts, compared to $9,075 under the previous scheme.

Money back

Megginson emphasized the significance of this financial injection in easing the burden of everyday expenses.

“Those struggling with everyday costs will see more money back in their pocket to help battle expenses,” she remarked.

“If your budget allows, stashing some of this extra cash is a wise move. Every bit helps build a buffer for those unexpected rainy days.”

Megginson advised individuals to explore avenues for potential savings, such as switching service providers to reduce expenses. For those unable to save, she recommended allocating the extra funds towards paying down debt and bills to alleviate financial pressure.

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Money

Anticipation builds for US jobs data and it’s global impact

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What to expect on. a global scale as investors brace for key U.S. employment figures.

Investors and economists are eagerly awaiting the release of the latest US jobs data, anticipating its potential impact on global market trends.

The numbers are expected to provide crucial insights into the health of the world’s largest economy and may influence investment decisions and market sentiments worldwide.

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