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Oct. 26, 2016 / 4:52 PM / Updated Oct. 26, 2016 at 4:56 PM

After earnings crush, Tesla expected to unveil 'solar roof', integrated home battery

Tesla is expected to unveil its "solar roof" at a Friday media event. Image courtesy Tesla Motors

Tesla is expected to unveil its "solar roof" at a Friday media event. Image courtesy Tesla Motors

Two days after announcing a massive beat on earnings, Tesla is expected to announce a new product – a "solar roof" that will integrate with an improved home battery system and Tesla car charger.

Analysts expected Tesla to report a loss of 54 cents per share on $1.98 billion in revenue on Wednesday. Instead, the company reported earnings of 71 cents per share on $2.3 billion in revenue, crushing the consensus estimate by $1.25 per share.

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That glowing announcement could come in handy for Tesla's plan to acquire SolarCity a home solar company created by CEO Elon Musk. Shareholders of both companies will vote on the plan Nov. 17. If approved, the combined company would be known as Tesla.

The solar roof would be a building's actual roof, as opposed to the current practice of mounting solar panels on top of an existing roof.

WHAT: Tesla product announcement

WHEN: Friday, Oct. 28, 2016 at 10 p.m. Eastern, 7 p.m. Pacific

HOW TO WATCH: Watch Tesla and Solar City for plans to stream the event live.

Topics
Elon Musk

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