Here’s How Tesla’s Stock Performed After Its Last 10 Earnings Reports

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Tesla will release financial results from the first three months of 2023 Tuesday afternoon after markets close—and the electric vehicle giant’s ever-volatile stock has performed consistently well after its prior 10 quarterly earnings releases—with some large swings along the way.

Elon Musk at Tesla’s Berlin factory in 2020.

dpa/picture alliance via Getty Images

Key Facts

In the day following the company’s last 10 earnings reports, Tesla share prices have been entirely flat, but gains have been steady further out from the releases, with an average jump of 8% in the 10 days following earnings and a 2% average spike 30 days after.

But those averages are brought down by massive stock swings often accompanying the releases: Tesla shares have moved an average of 5.6% the day after earnings, 8.1% over the 10 days after and 20.3% during the 30 days after.

That includes Tesla stock’s 32% crash last spring and its 40% rally to an all-time high in November 2021 after the firm posted record sales and profits.

Tesla stock sank leading up to this week’s earnings report as investors brace for profit numbers as the company continues to slash prices on its vehicles, and shares are down 2% Wednesday and 13% in April.

Key Background

Tesla said earlier this month it delivered 423,000 vehicles during the first quarter of 2023, up over 25% than the same period last year. But investors proved wary of the company’s jump in inventory as the firm simultaneously dropped prices, calling into question how Tesla’s margins would look. “This tug of war between volumes and margins is now the big debate” among investors in this quarter and beyond, Wedbush analyst Dan Ives wrote in a Sunday note to clients, adding he thinks the price cuts were a “smart ‘rip the band-aid off moment’” for Tesla.

Tangent

Elon Musk, Tesla’s billionaire CEO and largest shareholder, is amidst a particularly busy stretch at one of his other gigs as Twitter’s CEO. Musk finalized the renaming of Twitter to X, the name of his everything app and made a series of surprising comments in an interview that aired Monday, including accusing Meta’s billionaire CEO Mark Zuckerberg of tilting the 2020 election toward Democrats, confirming Twitter is worth half of what he paid for it last year and sharing he wants to build his own generative artificial intelligence product.

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