On SpaceX's earnings call late Tuesday, CEO Elon Musk, who also runs Tesla, took a break from talking about financial results to tell investors that it would be a "good idea" to merge his two companies, and said the boards at both have formed special committees to discuss a possible tie-up.
Musk will be back in public after market close on Wednesday, this time to discuss Tesla earnings.
Here's what Wall Street is expecting, according to estimates from analysts polled by LSEG:
Should Tesla fail to top expectations, the company would see a slight decrease in revenue from $28.1 billion a year earlier. Tesla has recorded double-digit growth in each of the two prior quarters, but revenue dropped in three of four quarters in 2025, as Chinese EV makers such as BYD and Xiaomi gained popularity in Asia and Europe with affordable and innovative EVs. Tesla was also hit last year by the end of a federal EV tax credit.
Earlier this month, Tesla reported vehicle deliveries for the third quarter of 486,532, about 2% below the year-ago number. Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in its shareholder communications.