Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!
Expand chart
Data: FactSet; Chart: Will Chase/Axios

Tesla is expected to report an eighth consecutive quarterly profit after markets close today, but still faces big questions despite showing it's now consistently in the black.

Why it matters: The company dominates U.S. electric car sales and is a leading player globally too, so its fortunes are both a business story and a climate story.

By the numbers: FactSet estimates the Silicon Valley automaker, solar and storage provider to report adjusted earnings of 94 cents per share and sales of $11.53 billion.

The market data company Refinitiv, per CNN, expects a record net profit of roughly $650 million for the second quarter.

What we're watching: Here's a few things we'll be looking for in the numbers and Elon Musk's evening call with analysts...

1. How much will come from, like, actually selling cars. In Q1 Tesla again brought in plenty of money — $518 million — from selling regulatory emissions credits to automakers who primarily sell gas-powered cars.

2. What's going on with the Supercharger network. CEO Elon Musk tweeted last week that Tesla would make the network, currently open only to Teslas, available to other EVs later this year.

  • But he provided no details beyond noting that it will extend to all countries "over time."
  • It could be a significant revenue source. Morgan Stanley's Adam Jonas, in a note, "conservatively" estimates $2.9 billion in charging revenue by 2030 from only Teslas.

3. Bitcoin's status with Tesla. Musk told a virtual conference last week that Tesla would "most likely" resume accepting the digital currency as payment.

  • “It looks like Bitcoin is shifting a lot more towards renewables,” Musk said, but noted he's still exploring the topic. CNBC has more.

4. The state of the long-planned semi-truck. The freight-mover unveiled in 2017 was supposed to start production in 2019, but that didn't happen.

The site Electrek reported last week that Tesla is "going through its final debugging" of its Nevada assembly line.

5. The state of Tesla's manufacturing and supply chain. Analysts will likely seek information about the status of Tesla's factories under construction in Texas and Germany, as well as how the chip shortage is affecting the company.

6. The rocky road in China. MarketWatch's earnings preview delves into what's happening with Tesla's operations in the world's largest auto market.

They note that "demand concerns have mounted amid a recent recall, consumer criticism, and a growing number of domestic EVs as competition with Teslas."

Go deeper

Oct 28, 2021 - Technology

Amazon revenue down in third quarter

Illustration: Shoshana Gordon/Axios

Amazon posted disappointing third-quarter results Thursday, with earnings and revenue lower than expected. Its shares dropped more than 4% in after-hours trading.

Why it matters: Amazon's business, which has boomed over the last year, has slowed just ahead of the holiday season, dragged down by supply chain problems, labor shortages and higher costs for shipping and freight due to the pandemic.

By the numbers:

  • Earnings: $6.12 per share vs. $8.92 per share expected, per CNBC
  • Revenue: $110.81 billion vs. $111.6 billion expected, per CNBC
  • Amazon Web Services: Sales rose to $16.11 billion vs. $15.48 expected, helping Amazon avoid a loss this quarter, per CNBC

What they're saying: CEO Andy Jassy said he expected the company to face billions of dollars of additional costs while minimizing customer disruption: "It’ll be expensive for us in the short term, but it’s the right prioritization for our customers and partners.”

  • Amazon has said it will hire hundreds of thousands of permanent and seasonal employees across the U.S. ahead of the holidays.

What's next: Amazon forecasts fourth quarter sales between $130 billion and $140 billion. Analysts had been expecting around $142.1 billion.

The state of Democrats' tentative climate deal

Illustration: Sarah Grillo/Axios

Democrats have unveiled specifics about their draft climate and social spending plan, but its path forward is pretty vague.

Catch up fast: The White House announced a "framework" Thursday morning with $555 billion in clean energy and climate investments. A nearly 1,700-page House draft emerged hours later.

Oct 28, 2021 - Technology

Facebook changes corporate name to Meta

Screen shot of CEO Mark Zuckerberg at the company's "Connect" virtual event

CEO Mark Zuckerberg on Thursday said the social media giant is renaming its company Meta.

Why it matters: The effort is meant to shift its image from a social media platform to a “metaverse” company that focuses on building virtual work and social communities.