Tesla to report earnings after Elon Musk floats SpaceX merger plan
Source: The Guardian ·
Musk says ‘there’s a lot of merit’ to potential merger that would require approval of 50% of Tesla shareholdersInvestors will be paying close attention to Tesla’s third-quarter earnings call on Wednesday, after chief executive Elon Musk floated the idea of merging the car company with his rocket and AI company, SpaceX. On a call with SpaceX investors on Tuesday, Musk said: “There’s a lot of…
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Investors will be paying close attention to Tesla’s third-quarter earnings call on Wednesday, after chief executive Elon Musk floated the idea of merging the car company with his rocket and AI company, SpaceX. On a call with SpaceX investors on Tuesday, Musk said: “There’s a lot of merit to combining the companies.” Musk said that the board of directors for both of his businesses had put together special committees to explore the potential merger, but had not yet reached an agreement on the terms of the transaction. The move would require the approval of 50% of all Tesla shareholders. For Tesla’s earnings on Wednesday, Wall Street is projecting the electric vehicle company to report a revenue of $27.9bn, with 43 cents on earnings per share. That would put the company at a slightly lower revenue than last quarter, which came in with $28.23bn in revenue. Tesla has experienced a rough year with falling stock and increased competition from cheaper Chinese automakers. The company’s share…