Photo: Beata Zawrzel/NurPhoto via Getty Images

Tesla, struggling to turn the corner to profitability, will report its Q3 earnings after markets close Wednesday.

The big picture: Delivering more cars — and the electric carmaker already announced a record quarter on that front — isn't yet a recipe for financial health, especially as the lower margin Model 3, the best-selling EV in the U.S., is increasingly its dominant product.

Flashback: Tesla reported a net loss of $408 million in Q2. CEO Elon Musk said at the time that he expects to be "around breakeven" in Q3 and profitable in Q4.

Where it stands: Per MarketWatch, analysts polled by FactSet predict an adjusted loss of 46 cents per share. And they also report that for "the first time in more than a decade, Tesla is looking at a year-over-year dip in quarterly revenue."

What we're watching: Beyond the numbers, Tesla-watchers will have an ear out for updates on vehicles still in development, including the semi-truck and the Model Y crossover slated for production next year.

  • "The company will also likely provide an update on whether the pickup truck is still expected to launch next month, following a series of delays," CNBC reports.
  • Tesla's expansion into China, the world's biggest auto market, will also be in focus. "Tesla ... is conducting trial production runs at its new $2 billion China factory for the past several weeks and will sell some of the first cars from the plant to its employees," Reuters reported Wednesday morning.

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15 states broke single-day coronavirus records this week

Data: Compiled from state health departments by Axios; Map: Danielle Alberti/Axios

At least 15 states broke their single-day novel coronavirus infection records this week, according to state health department data reviewed by Axios.

The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
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In photos: America celebrates July 4 during global pandemic

Photo: Francine Orr/Los Angeles Times/Getty Images

The U.S. has already celebrated Easter, graduations and so much more during the coronavirus pandemic, and now it can add July 4 to the list.

The state of play: Axios' Stef Kight writes public parades and fireworks displays around much of the country are being canceled to prevent mass gatherings where the virus could spread. Hot-dog contests and concerts will play to empty stands and virtual audiences — all while American pride treads an all-time low.