Tesla's breakneck expansion paused in the second quarter and that likely will drag down earnings, to be posted after the market close Wednesday. But there are fresh signs that the automaker's factory woes in China, Texas and Berlin are on the mend.
Beyond the public drama of CEO Elon Musk attempting to scuttle his $44 billion purchase of Twitter, Tesla appears ready for a big growth phase — if the global economy holds up in the face of supply chain shortages and rising costs, analysts said.
"Despite all the drama and the ups and downs with Mr. Musk, it's worth sticking with it," George Gianarikas, analyst at Canaccord Genuity, said in an interview with CNBC last week. The analyst called Tesla "Apple on steroids" because of the automaker's lead in the electric vehicle race.
Tesla is expected to show a rise in quarterly revenue when it announces results on July 20, Reuters reported. The Austin, Texas, company is expected to report revenue of $17.09 billion for the quarter, a 43 percent increase from $11.96 billion a year earlier, according to the mean estimate from 20 analysts, based on Refinitiv data.